What isn't clear is whether the Bartell name that has been such a presence in the Seattle area will survive, with several experts warning that the ubiquitous brand could disappear.

The sale transactions are subject to approval by the U.S. Bankruptcy Court for the District of New Jersey. The court is scheduled to conduct a hearing to approve the sales on Wednesday.

CVS Pharmacy has announced its plans to acquire hundreds of Rite Aid stores across the country, with many of them operating in Washington and neighboring states.