Rite Aid is preparing to file for bankruptcy in order to address lawsuits related to its alleged role in the sale of opioids.
Rite Aid's stock plummeted over 50% after reports of the retail pharmacy's preparation to file for Chapter 11 bankruptcy due to increasing costs from opioid lawsuits and potential store closures, with the company's stock losing 90% of its value over the past year.
Pharmacy chain Rite Aid is closing hundreds of stores nationwide as it addresses its debt situation and deals with opioid-related lawsuits, with the exact locations of the closures yet to be disclosed.
Rite Aid, one of the largest pharmacy chains in the US, has filed for bankruptcy due to billions of dollars in debt, declining sales, and numerous lawsuits alleging the filling of illegal prescriptions for painkillers.
Rite Aid, the third-largest nationwide standalone pharmacy chain in the US, has filed for Chapter 11 bankruptcy protection due to financial struggles worsened by legal battles over illegal opioid prescriptions, competition from bigger rivals, and the rise of alternative options like Amazon and big-box chains.
Major U.S. pharmacy chain Rite Aid has filed for bankruptcy and secured $3.45 billion in financing as part of a restructuring plan aimed at reducing debt and addressing falling sales and opioid-related lawsuits.
Rite Aid, a debt-laden drugstore chain, has filed for bankruptcy protection and plans to close underperforming stores amid lawsuits linking it to the U.S. opioid crisis.
US pharmacy chain Rite Aid files for bankruptcy to close unprofitable stores, address opioid lawsuit risks, and restructure its $4 billion debt load.
Rite Aid, a major U.S. pharmacy chain, has filed for bankruptcy due to falling sales and opioid-related lawsuits, while obtaining $3.45 billion in fresh financing as part of a restructuring plan.
The closure of drugstore chains like Rite Aid is leading to health risks for communities, including older adults failing to take medication, and is driven by factors such as competition, debt, and expensive legal battles, as well as the rise of online retailers and theft, prompting a shift towards the more lucrative healthcare industry.
Rite Aid has filed for bankruptcy as part of its efforts to reduce debt and restructure, but the company assures customers that it will continue serving them in-store and online.
Pharmacy chain Rite Aid has filed for Chapter 11 bankruptcy, joining other retailers that have struggled due to consumer focus on essential goods and decreased spending on discretionary items, a trend that may continue to impact retailers after the holiday season.
Drugstore chain files for bankruptcy, joining the growing number of companies suffering financial collapse in 2023.
Rite Aid has filed for Chapter 11 bankruptcy and will close over a dozen stores in Michigan, raising concerns about access to medicine and care.
Rite Aid, the third-largest U.S. drugstore chain, will close at least 154 stores as part of its bankruptcy process, posing a significant challenge for people in urban and rural areas who rely on these pharmacies for medications and other essentials.
Rite Aid, the third-largest standalone pharmacy chain in the US, is planning to sell around 100 of its stores as part of its restructuring efforts amid financial difficulties and increased competition from big-box chains like Walmart and Target as well as online retail giant Amazon.
Several local Rite Aid stores in the Pittsburgh area are set to close after the company files for bankruptcy amidst falling sales and opioid-related lawsuits.
Rite Aid is closing 154 stores nationwide, including nearly a dozen in Washington state, after filing for bankruptcy due to struggling sales and opioid-related lawsuits.
Pharmacy chain Rite Aid plans to close 154 underperforming stores across 17 states as part of its Chapter 11 bankruptcy filing.
Rite Aid is set to close nearly 100 stores across the country as part of its bankruptcy restructuring, with the majority located in California, Pennsylvania, and New York, amid intense competition from e-commerce giants and legal troubles related to opioid prescriptions.
Rite Aid, the third-largest pharmacy chain in the US, plans to close 154 stores across 15 states as part of its Chapter 11 bankruptcy filing, with Pennsylvania, California, and New York being the most affected.
Pharmacy chain Rite Aid plans to close 154 underperforming stores across the United States as part of its Chapter 11 bankruptcy protection filing, amidst lawsuits over its alleged role in fueling the opioid epidemic.
Rite Aid, as part of its Chapter 11 bankruptcy process, plans to close approximately 7% of its stores nationwide, including nine Pittsburgh-area locations, in an effort to cut debt and resolve litigation.
Rite Aid plans to close its warehouse in Wilsonville, Oregon, next spring, resulting in 136 workers losing their jobs, as part of the company's Chapter 11 bankruptcy restructuring.