If all goes as requested by the company, Rite Aid will shutter between 400 and 500 of its U.S. locations.
Rite Aid currently operates more than 2,330 stores in 17 states, which though it may sound like a lot, is substantially less than the footprints of rivals CVS Health and Walgreens.
Opioid lawsuits could kill America's corporate drug dealing sector, i.e., Rite Aid, Walgreens and CVS. According to reports, the top seven companies currently operating pharmacies in the U.S. include, going from largest to smallest: CVS Health, Walgreens Boots Alliance, Cigna, UnitedHealth Group, Walmart, Kroger and Rite Aid.
Rite Aid is also considering holding an auction to sell its Elixir pharmacy unit along with other valuable parts of its business.
The DOJ case accuses Rite Aid of dispensing controlled substances in direct violation of the False Claims Act and the Controlled Substances Act.
If Rite Aid successfully seeks chapter 11, it will be the first pharmacy chain to do so because of opioid-related lawsuits.
https://www.naturalnews.com/2023-09-25-rite-aid-close-500-stores-bankruptcy-proposal.html
No comments:
Post a Comment