Topline
Drugstore chain Rite Aid plans to shut down hundreds of stores in bankruptcy, according to the Wall Street Journal, as the company figures out how to address billions of dollars’ worth of debt and a swath of opioid-related lawsuits.
Key Facts
Rite Aid has proposed to close about 400 to 500 of its more than 2,100 stores in bankruptcy and either sell them or allow creditors to take control of the remaining operations, the Journal reported, citing people familiar with the bankruptcy proceedings.
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