Rite Aid
A Rite Aid store in Glendale, California in 2023 | |
| Formerly | Thrift D Discount Center (1962–1968) |
|---|---|
| Company type | Private |
| Industry | Retail |
| Founded | September 12, 1962 In Scranton, Pennsylvania, United States |
| Founder | Alex Grass |
| Fate | Chapter 11 bankruptcy and liquidation |
| Headquarters | Philadelphia, Pennsylvania, United States |
Number of locations | 1,240 (May 2025) |
Key people |
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| Products | Pharmacy, grocery store, liquor store |
| Revenue | US$24.04 billion (FY2021) |
| US$47.14 million (FY2021) | |
| US$−90.9 million (FY2021) | |
| Total assets | US$9.335 billion (FY2021) |
| Total equity | US$615.2 million (FY2021) |
Number of employees | 31,000 (2024) |
| Subsidiaries | Bartell Drugs |
| Website | riteaid |
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. Prior to its first bankruptcy in 2023, it was the third-largest drugstore chain in the United States. The company has more than 1,200 stores in 15 U.S. states, primarily on the East and West coasts.
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD, and ranked No. 148 in the Fortune 500 in 2022. The company filed for Chapter 11 bankruptcy twice in October 2023 and May 2025, due to a large debt load, thousands of lawsuits alleging involvement in the opioid crisis, and a failed restructuring.