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Rite Aid Files for Bankruptcy, Undone by Years of Losses
wall st journal ^ | 10/15/23 | Story by Sarah Nassauer, Alexander Gladstone

Posted on 10/15/2023 7:37:54 PM PDT by RomanSoldier19

our local Rite Aid drugstore could soon disappear, a casualty of years of losses and failed mergers. In the end, Rite Aid was too small and too poor to pay the costs of lawsuits related to the opioid epidemic.

Rite Aid filed for bankruptcy on Sunday in New Jersey, unable to find the money to settle hundreds of federal, state and private lawsuits alleging it oversupplied prescription painkillers.

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


TOPICS: Business/Economy; News/Current Events; US: New Jersey
KEYWORDS: bankruptcy; bidenomics; blm; defundthepolice; riteaid; shoplifting
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Essential retailers closing thousands of stores

https://www.thestreet.com/retailers/beyond-bankruptcy-essential-retailers-face-huge-store-closures

1 posted on 10/15/2023 7:37:54 PM PDT by RomanSoldier19
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To: RomanSoldier19

Thrifty, once upon a time.


2 posted on 10/15/2023 7:44:44 PM PDT by ifinnegan (Democrats kill babies and harvest their organs to sell)
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To: RomanSoldier19

I’m sure that ongoing thievery didn’t help either.


3 posted on 10/15/2023 7:45:07 PM PDT by House Atreides (I’m now ULTRA-MAGA. -PRO-MAX)
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To: RomanSoldier19

This is a pretty bogus charge.

Did a doctor issue the script? Sue the doctor, instead.


4 posted on 10/15/2023 7:45:17 PM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: RomanSoldier19

> In the end, Rite Aid was too small and too poor to pay the costs of lawsuits related to the opioid epidemic. <

Fill the prescription, get sued.
Don’t fill the prescription, get sued.

It would seem to me that all the heat should be directed at the doctors who knowingly wrote bad prescriptions. And the word “knowingly” is important there, as opioids have their place in reducing human suffering.

Oh, well. I guess it’s best for the personal injury lawyers to decide everything.
Those folks always have our best interests at heart. Not.


5 posted on 10/15/2023 7:45:54 PM PDT by Leaning Right (The steal is real.)
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To: RomanSoldier19

Rite Aid sold the cheapest beer at Grand Central.

I shall miss them.


6 posted on 10/15/2023 7:47:45 PM PDT by SamAdams76 (6,390,901 Truth | 86,874,940 Twitter)
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To: RomanSoldier19

Murdered by the lawyer-and-politician-inspired opioid panic. The only other pharmacy in our small town is a hole-in-the-wall place in the old downtown with no parking, let alone handicap parking. I’ll have to drive a half hour each way to get my prescriptions filled, if this one closes.


7 posted on 10/15/2023 7:48:48 PM PDT by Chad C. Mulligan
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To: RomanSoldier19

I tell ya that Bidenomics is working out great/sarc


8 posted on 10/15/2023 7:57:30 PM PDT by Sarah Barracuda
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To: House Atreides

Some Thieves have brief cases. Plenty of shoplifting losses but the opioid lawsuits crushed them


9 posted on 10/15/2023 7:58:19 PM PDT by gibsonguy
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To: RomanSoldier19
Too bad, I preferred Rite Aid over CVS whenever I had a choice.

10 posted on 10/15/2023 7:59:03 PM PDT by BitWielder1 (I'd rather have Unequal Wealth than Equal Poverty)
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To: ifinnegan

I miss the old mom and pop drug stores. Wynnewood, PA used to have one.


11 posted on 10/15/2023 8:00:17 PM PDT by cowboyusa (YESHUA IS KING OF AMERICA! DEATH TO MARXISM AND GLOBALISM! Trump 2024, NO more Mr Nice)
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To: RomanSoldier19

This is like putting school bus drivers out of work, because they take students to schools that don’t teach them anything they need.

China hooks up with Mexican thugs to drown the nation in fentanyl, every city is getting its tranq neighborhood like the opium dens in old Shanghai, and we’re making legitimate pharmacies close shop and lose everything because of a medicine that is a godsend for pain management when used the way patients are supposed to use it.

Professing to be wise, they became fools.


12 posted on 10/15/2023 8:01:18 PM PDT by chajin ("There is no other name under heaven given among people by which we must be saved." Acts 4:12)
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To: RomanSoldier19

If there is one thing that does not last forever it is drugstore chains. I remember so many that have come and gone. Always swallowed up by another.


13 posted on 10/15/2023 8:02:17 PM PDT by Revel
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To: RomanSoldier19

they were the worst company I ever worked for , glad they are gone!


14 posted on 10/15/2023 8:05:04 PM PDT by Craftmore
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To: RomanSoldier19

The local (central Tennessee) Rite Aid pharmacies closed about 10 years ago. Various bargain stores bought the buildings.


15 posted on 10/15/2023 8:05:31 PM PDT by Blood of Tyrants ( "It is easier to fool people than to convince them they have been fooled."- Mark Twain)
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To: RomanSoldier19

Rite Aid never handed out pain medication. They filled prescriptions written by physicians. If in fact some physicians were guilty of malpractice shouldn’t the state licensing board and county medical groups be responsible for policing bad physicians? Why blame the drug store?


16 posted on 10/15/2023 8:09:08 PM PDT by ladyjane
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To: ConservativeMind

That’s what has been happening in Indiana. Doctor’s office I used to go to closed down after almost all the doctors were implicated in a racket to prescribe opioid type meds that people ended up dying from. Now, that said, I put the blame on the patients and not on the doctor’s but they were closed down anyway.


17 posted on 10/15/2023 8:09:13 PM PDT by ducttape45 (Proverbs 14:34, "Righteousness exalteth a nation: but sin is a reproach to any people.")
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To: ifinnegan

Hopefully, the Thrifty ice cream lives on.


18 posted on 10/15/2023 8:11:42 PM PDT by San Joaquin
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To: ConservativeMind

Really. Rite Aid can not dispense any meds without prescription.


19 posted on 10/15/2023 8:17:10 PM PDT by entropy12 (Career politicians like Desantis build wealth. Trump sacrificed his wealth to serve people. GO TRUMP)
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To: RomanSoldier19

Rite Aid bought out K & B, the New Orleans based drug store chain. Still upset over that.
Could someone possibly buy that brand from Rite Aid now that they’re bankrupt?

K & B had the best selection of house brand ice cream and Elmers candy. Used to spend all my time between the arcade games and comic books at our old location.


20 posted on 10/15/2023 8:21:42 PM PDT by Southern Magnolia
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