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Opioid Crisis

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Rite Aid Plans To Close 400-Plus Stores, Report Says Rite Aid Plans To Close 400-Plus Stores, Report Says
Rite Aid Plans To Close 400-Plus Stores, Report Says Rite Aid will close 400 to 500 stores as part of a Chapter 11 bankruptcy reorganization, according to a new report. The drugstore chain is now negotiating with creditors to formulate a bankruptcy plan that would include liquidating a substantial portion of its more than 2,100 drugstores, The Wall Street Journal says. Rite Aid is facing over $3 billion in debt and more than a thousand federal lawsuits alleging it oversupplied opioids, the report said. Founded 61 years ago in Scranton, Pennsylvania, Rite Aid moved its headquarters to Philadelphia in 2022. Click here to read the complet…

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by Joe Lombardi