Rite Aid Reportedly Preparing For Bankruptcy Amid Opioid Lawsuits And $3.3 Billion Debt

Rite Aid is reportedly considering filing for Chapter 11 bankruptcy, which would help the company address its $3.3 billion debt and temporarily halt lawsuits related to allegations of oversupplying prescription painkillers during the opioid crisis.

forbes.com

Relevant topic timeline:

8/25/2023

Rite Aid prepares bankruptcy filing, store closures amid opioid lawsuits

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.