Walgreens Boots Alliance announced in October 2024 its plans to close approximately 1,200 stores across the United States as the pharmacy chain struggles with slumping consumer spending. At the time, the chain said the closures would occur within three years, starting with about 500 stores being shuttered in fiscal year 2025, which ends in August.

The sale transactions are subject to approval by the U.S. Bankruptcy Court for the District of New Jersey. The court is scheduled to conduct a hearing to approve the sales on Wednesday.

CVS Pharmacy has announced its agreement to buy the prescription files of 625 Rite Aid pharmacies across 15 states.