Rite Aid Throws In The Towel
Two months after we last spoke about it, pharmacy retailer Rite Aid is back in the news again. Unfortunately, for a similar reason as last time. 👎
In August, the drugstore chain warned it was preparing for bankruptcy as it buckled under mounting debts and lawsuits over its role in the opioid epidemic. Today, the company officially filed for Chapter 11 bankruptcy protection in New Jersey, appointing a new CEO to lead the restructuring plan. 📝