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The company has proposed to close roughly 400 to 500 stores in bankruptcy, and either sell or let creditors take over its remaining operations, according to the report.
Given the conversations remain ongoing, no decisions have been made at this time, Rite Aid said.
The company operates more than 2,330 stores in 17 U.S. states, although it is much smaller than rivals such as Walgreens Boots Alliance (NASDAQ:WBA) and CVS Health (NYSE:CVS).
