It’s weirdly quiet. If you’ve driven past the old Rite Aid on National Avenue lately—whether you’re in Milwaukee, Indianapolis, or one of the other "National" stretches across the country—you’ve probably noticed the same thing: those giant red-and-blue signs are either coming down or looking a little dusty.
People are confused. Honestly, it makes sense. One week you’re picking up a prescription and a bag of peanut M&Ms, and the next, there’s a bright orange "Store Closing" banner screaming at you from the window. It isn’t just a local fluke. It’s part of a massive, complicated bankruptcy puzzle that has been unfolding since late 2023.
The Messy Reality of the Chapter 11 Filing
Bankruptcy sounds like the end, but in the corporate world, it’s often just a very expensive "reset" button. Rite Aid filed for Chapter 11 bankruptcy protection in October 2023. This wasn't because people stopped buying toothpaste. It was a perfect storm of massive debt, declining sales, and—this is the big one—thousands of lawsuits related to opioid prescriptions.
The company had to trim the fat. Fast.
When we talk about the Rite Aid on National, we're often talking about specific urban hubs. Take the Milwaukee location on West National Avenue, for example. It was a staple. But in the eyes of corporate liquidators and the restructuring firm A&G Real Estate Partners, every single lease was put under a microscope. If a store wasn't hitting specific profit margins, or if the rent was too high, it was added to the "rejection" list.
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Why Some Stores Survived While Others Vanished
You might wonder why the Rite Aid down the street stayed open while the Rite Aid on National shuttered its doors. It usually comes down to three things:
- Prescription Volume: This is the lifeblood. If the pharmacy isn't filling enough scripts, the front of the store (the snacks and makeup) can't save it.
- The Walgreens Factor: In many cases, Rite Aid actually sold its "prescription files" to competitors like Walgreens or CVS. If you were a regular at a National Ave location, you likely got a letter saying your records were being moved a mile down the road.
- Real Estate Value: Sometimes the land is worth more than the business. Developers are hungry for these corner lots.
It’s a brutal process. Jeffrey Stein, who stepped in as the CEO during the restructuring, had the unenviable task of hacking away at a footprint that once spanned thousands of stores. By the time Rite Aid emerged from bankruptcy in late 2024, it was a much smaller, private company. It’s no longer traded on the New York Stock Exchange. It’s leaner, but for the neighborhoods that lost their primary pharmacy, it feels like a desert.
The "Pharmacy Desert" Problem is Real
When the Rite Aid on National closes, it isn't just an inconvenience for people who want a greeting card. It’s a healthcare crisis for seniors. Think about it. If you’ve been walking to that corner for twenty years to get your blood pressure medication, and suddenly your "new" pharmacy is three miles away across a highway, that’s a barrier.
Studies from places like the University of Southern California have shown that pharmacy closures disproportionately hit low-income urban neighborhoods. National Avenue, in many cities, runs right through these exact types of communities. When the big chains pull out, independent pharmacies sometimes try to fill the gap, but they don't have the same bargaining power with insurance companies. It’s a tough spot for everyone involved.
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What Happened to the Employees?
This is the part that rarely makes the headlines. When a store like the Rite Aid on National shuts down, the staff is often given very little notice. Some are offered transfers to other locations, but if those locations are also on the chopping block, it’s a gamble.
The retail pharmacy industry is already under a ton of stress. Pharmacists are burnt out. Technicians are underpaid. Seeing your home base close down is often the final straw that pushes these professionals out of the industry entirely. We're seeing a massive shift in how "essential" retail looks in 2026, and it's not always pretty.
Looking Forward: What Replaces These Buildings?
So, what happens to that empty shell of a building on National?
You’ve probably seen the cycle before. Sometimes it sits empty for two years, getting covered in graffiti. Other times, a discount retailer like Dollar General or Five Below moves in. In some "up-and-coming" neighborhoods, these locations are being razed to make way for mixed-use apartments.
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But there’s a new trend emerging: "Medtail."
Healthcare providers are realizing that people like the convenience of a pharmacy-style location. We're seeing urgent care clinics, dialysis centers, and primary care offices moving into old Rite Aid and CVS footprints. It’s a bit ironic. The pharmacy leaves, but a doctor’s office moves in.
How to Manage Your Prescriptions Now
If you were a regular at the Rite Aid on National and you're still scrambling to figure out your meds, you have a few specific options that are better than just waiting in a 40-minute line at a crowded Walgreens.
- Verify the Transfer: Call your doctor immediately. Don't assume the "automatic" transfer to the nearby CVS went through perfectly. Insurance hiccups are common during these corporate handoffs.
- Check the Independents: Look for "mom and pop" pharmacies. They often offer delivery services that the big chains have started charging for.
- Mail Order: If your insurance allows it, moving to a 90-day mail-order supply can insulate you from the volatility of local retail closures.
- Cost Plus Drugs: If you’re paying out of pocket because your new pharmacy doesn't take your plan, check Mark Cuban's Cost Plus Drug Company. It’s often cheaper than a co-pay.
The landscape of retail pharmacy is changing forever. The era of a massive drug store on every single corner is winding down. It’s about efficiency now, not proximity. While the loss of the Rite Aid on National feels like a hit to the neighborhood's character, it’s a symptom of a much larger shift in how we buy things and how we stay healthy.
Immediate Steps for Impacted Customers
- Download your records: If your local store is still in the "closing" phase, go to the counter and ask for a printed copy of your 12-month prescription history. It makes moving to a new pharmacy ten times easier.
- Update your apps: If you use an app for refills, delete the Rite Aid one once your scripts are moved. It’ll just confuse you with notifications for a store that doesn't exist.
- Inquire about the "Last Day": Usually, the pharmacy closes about a week before the rest of the store. If you see the 50% off signs on the candy aisle, your meds need to be moved today.