Rite Aid is shuttering over 150 stores as it seeks to restructure their business following years of legal issues tied to the opioid crisis and sagging sales.
Rite Aid Corp., which recently filed for Chapter 11 bankruptcy, plans to shutter 154 stores as part of its financial restructuring effort. The closures will occur in 15 states across the nation as part of the voluntary bankruptcy process. However, Pennsylvania, California and New York will get hit the hardest with 39, 32 and 20 closures, respectively, according to court documents filed in bankruptcy court. The company – the third-largest pharmacy chain in the U.S.
" RITE AID TO CLOSE HUNDREDS OF STORES IN BANKRUPTCY: REPORT The company pulled in Jeffrey Stein to lead the company as it seeks to make a comeback from several years of declining sales and legal issues. According to The Associated Press, Rite Aid settled several suits related to the opioid crisis. One of them was with the state of West Virginia last year.
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Rite Aid is closing 154 stores as part of bankruptcyBill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.
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Rite Aid is closing these 154 stores as part of its bankruptcyBill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.
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These Rite Aid and Bartell Drugs stores are set to close in Washington stateRite Aid plans to close more than 150 stores nationwide after filing for bankruptcy. Nearly a dozen of those stores are in Washington state.
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11 Washington state Rite Aids to close amid bankruptcy. Here's which onesRite Aid announced it's closing 154 stores nationwide after recently filing for bankruptcy, and nearly a dozen of those locations are in Washington state.
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What a restructured Rite Aid could look likeThe pharmacy chain may find stronger financial footing with an even smaller footprint, experts said.
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Rite Aid's stock tumbles 55% to join its cratering bonds after bankruptcy filingBankruptcy sparks heavy selling of the drugstore chain’s stock and bonds
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