“Rite Aid has been actively seeking capital, including negotiating with its lenders for additional capital to continue to run its business,” Matthew C. Schroeder, CEO of the company, said in the Pennsylvania layoff notice dated May 5. “Unfortunately, our efforts were unsuccessful.”

All Rite Aid stores will close or be sold to a new owner in the coming weeks and months as the struggling retailer goes through its second Chapter 11 bankruptcy filing. Why it matters: The Philadelphia-based drugstore chain is looking to sell both its pharmacy business and its stores,

Philadelphia-based drugstore chain Rite Aid plans to close all of its U.S. locations — including 33 stores in Philly — and shutter its headquarters at the Navy Yard as part of its second bankruptcy filing in less than two years, the company said Monday.