Rite Aid also notified New Jersey's labor department that store closures in the state will result in 1,112 layoffs.

After announcing that it would be entering bankruptcy, Rite Aid is now slated to begin a process of auctioning off stores.

The company will operate independently as a wholly-owned subsidiary of the acquiring firm.

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If you have prescriptions at Rite Aid, you could see a big change coming due to another bankruptcy filing from the company.

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