Rite Aid to Close Hundreds of Stores in Bankruptcy: Report
September 25, 2023
Pharmacy chain Rite Aid is reportedly in talks about a bankruptcy plan that could lead to the closure of a significant number of its 2,100 drugstores, with sources suggesting up to 500 stores may be shuttered. Discussions are ongoing, and Rite Aid has stated that no final decisions have been reached. The move comes as the company grapples with over $3.3 billion in debt and numerous federal lawsuits related to its alleged involvement in the opioid epidemic, with bankruptcy offering a potential pathway to address these challenges.
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