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Drug retailer Rite Aid prepares to file for bankruptcy
Reuters ^ | 8/25/23

Posted on 08/25/2023 12:58:48 PM PDT by EBH

Rite Aid Corp (RAD.N) is preparing to file for bankruptcy in coming weeks to address lawsuits the company is facing over its alleged role in the sale of opioids, the Wall Street Journal reported on Friday, citing people familiar with the plan.

Shares of the pharmacy retail chain operator fell 35% to 94 cents in afternoon trade.

The Chapter 11 filing would cover Rite Aid’s more than $3.3 billion debt load and pending legal allegations that it oversupplied prescription painkillers, the newspaper reported.

Rite Aid did not immediately respond to a Reuters request for comment.

Regionally focused Rite Aid operates more than 2,330 stores in 17 U.S. states, although it is much smaller than rivals like Walgreens Boots Alliance (WBA.O) and CVS Health (CVS.N).

Along with other pharmacy chains, Rite Aid has been named a defendant in lawsuits that alleged they helped fuel the opioid crisis in the United States.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Government
KEYWORDS: bankruptcy; riteaid
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To: Steven Scharf

Nope. All kinds of them round here!


21 posted on 08/25/2023 5:46:28 PM PDT by EBH (America Blackmailed, The True Story of the World War...Coming Soon (1/21-))
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To: EBH

well from experience the last 4 years Rite Aid Men’s
incontinence products are excellent and less expensive than Depends. Men’s Underwear and Guards.


22 posted on 08/25/2023 6:00:37 PM PDT by coalminersson
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To: BikerJoe
They want you to navigate that maze in the hopes that you'll see and purchase something you normally wouldn't

Yes, I guessed at that. Still found it personally annoying. I am not a "shopper". I go in, get what I want, and go out. But I suppose whether I am a typical or atypical shopper, they though they design would work. However, those who graze the aisles of stores would find more merchandize if they used their square footage to maximize their inventory square footage. Stack 'em deep and sell 'em cheap used to be the way of retail. It's a drugstore but looks more and more like a boutique every time I walk in.

All that said, I guess it doesn't matter because it appears they can't afford to buy inventory anyway.

23 posted on 08/28/2023 12:05:04 PM PDT by monkeyshine (live and let live is dead)
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To: GailA

Thanks, I’ll look. That link doesn’t load but I’ll search for him or his work.


24 posted on 08/28/2023 12:33:18 PM PDT by monkeyshine (live and let live is dead)
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