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.
Rite Aid is discussing a bankruptcy plan that may involve the closure of 400 to 500 drugstores and the potential sale or transfer of its remaining operations to creditors.
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.
Rite Aid, the third-largest U.S. drugstore chain, has filed for Chapter 11 bankruptcy protection and is likely to close a significant number of its stores, indicating a trend of dwindling options for consumers looking to fill prescriptions at drugstores.
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.
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 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.
Pharmacy chain Rite Aid plans to close 154 underperforming stores across 17 states as part of its Chapter 11 bankruptcy filing.
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.
Rite Aid, CVS, and Walgreens will close over 1,500 stores, creating "pharmacy deserts" and leaving millions of Americans without access to healthcare.
