Many big-name pharmacies are struggling.
Rite Aid Files for Bankruptcy
Rite Aid has filed for Chapter 11 bankruptcy protection as it has reported losses of $3 billion over the last six years. The company only reported $1 billion in assets.
The pharmacy is facing competition from more cost-friendly alternatives and legal expenses from its part in the opioid crisis.
With Rite Aid filing for bankruptcy, the company plans to accelerate store closures and sell off some its businesses.
https://abc13.com/rite-aid-bankruptcy-chapter-11-pharmacy-chain-stores/13920894/