Gray Drug

Gray Drug

Company type	Private
Industry	Pharmacy, Retail
Founded	1912
Founder	Adolph Weinberger
Defunct	1987
Fate	Acquired by Rite Aid
Headquarters	Cleveland, Ohio , United States
Area served	Ohio, Florida, Maryland
Products	Pharmacy services, Discount department stores (after diversification)

Gray Drug was a prominent American pharmacy chain based in Cleveland, Ohio. Established in 1912 by Adolph Weinberger, the company expanded to operate 46 outlets by 1946 and surpassed 100 locations during the 1970s. Initially concentrated in Ohio, the chain eventually extended its reach by launching stores in Florida and Maryland. In 1981, Gray Drug acquired Drug Fair, a retailer headquartered in Alexandria, Virginia, shortly before being purchased by Sherwin-Williams. The following year, the company incorporated several Cunningham Drug stores into its portfolio.

Diversifying its operations, Gray Drug ventured into the discount department store sector by purchasing Cincinnati-based Rink's Department Store chain in 1964. Subsequently, in 1967, it acquired the Cleveland-founded Bargain City chain.

In 1987, Gray Drug was acquired by Rite Aid, marking the end of its independent operations.

As of 2023, Rite Aid—the successor entity to Gray Drug—filed for Chapter 11 bankruptcy protection. On May 5, 2025, Rite Aid initiated a second Chapter 11 filing within two years, reporting assets and liabilities ranging between $1 billion and $10 billion. The company attributed this financial distress to factors including substantial debt burdens, heightened market competition, and inflationary pressures.