Rite Aid to close more than 300 stores

(CNN) - Rite Aid announced it will close more than 300 stores.

This is in addition to the more than 100 stores the company announced it intended to close when it filed for Chapter 11 bankruptcy in May.

Rite Aid also sold most of its pharmacy services nationwide to rivals CVS, Albertsons, Kroger and Walgreens.

The drug store has about 1,200 operating stores, which is about half of what it had just two years ago.

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