By Bob Walsh
Rite
Aid is a major pharmacy chain in the U. S. They started as a single
store in Scranton in 1962. They have been hit hard by the pandemic and
have closed down about 200 underperforming stores and sold a number of
others to raise cash on a lease-back arrangement.
They
just filed for Chapter 11 Bankruptcy protection as part of a nearly
$3.5 billion deal with MedImpact Healthcare Systems which includes
nearly $600 million in cash.
Rite
Aid is getting beat up badly in the opioid claims mess, facing
allegations they they knowingly filled a LOT of bogus scripts for Oxy.
The
chain has over 2,000 locations nationwide. They are planning to shut
down more stores to save cash. They filed for bankruptcy this morning
in Trenton, N.J.
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