In 2020, chairman George D. Bartell said the sale of his 130-year-old family company was the only option. Regional operators like Bartell Drugs just couldn’t compete in the pharmacy business anymore.

But now, after acquiring Bartell, Rite Aid itself is in a deep hole. Since the acquisition, Rite Aid has closed 21 of 68 Bartell locations, along with some of its own stores.

So why are pharmacies struggling to stay afloat?