After announcing it will close 100 stores, Rite Aid says it will close an additional 300 outlets, WABC reports.

The drug store chain, which filed for Chapter 11 bankruptcy in May, currently operates about 1,200 stores, half the number it ran two years ago. The new round of closings will leave around 800 Rite Aids operating in the U.S., many of them in suburban and rural areas.

Two weeks ago, Rite Aid entered sales agreements to sell its pharmacy assets from more than 1,000 store locations to CVS Pharmacy, Walgreens, Albertsons, Kroger, and Giant Eagle.

CVS Pharmacy will buy and operate many Rite Aid and Bartell Drugs stores in Washington, Oregon and Idaho, Rite Aid said in a filing.

Rite Aid stores will remain open, and customers will be able to continue to use pharmacy services, according to a Rite Aid statement.

However, notes Neil Saunders, managing director of consultancy GlobalData, because a large number of Rite Aid stores are in rural areas, the acquisition by other pharmacies may not be convenient for existing or new customers.

Philadelphia-based Rite Aid first filed for bankruptcy in 2023, as it and other drug stores have grappled in recent years with tighter prescription margins, increased theft, opioid court settlements, and competition from online discount retailers.