While Rite-Aid has announced plans to close several stores amid news of bankruptcy, the Indiana Rite-Aid will not be one of them.
Rite-Aid announced they were closing 150 of its locations, six of them in Western Pennsylvania. The company filed for Chapter 11 Bankruptcy protection earlier this week, and announced plans to sell part of its business and restructure while it recovers from losses and opioid-related lawsuits. The stores will continue to fill prescriptions and customers will still be able to shop at brick-and-mortar stores and online while they go through the bankruptcy process. By voluntarily filing for bankruptcy, they are allowed to expedite the store closure process.
The company has not only lost money over the past few years, but also faces financial risk from lawsuits over opioid prescriptions. Rite Aid already has reached several settlements.
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