Rite Aid files for bankruptcy; gets $3.45 billion commitment.
U.S. pharmacy chain Rite Aid announced Sunday that it has filed for bankruptcy and obtained $3.45 billion in financing as it carries out a restructuring plan.U.S. pharmacy chain Rite Aid announced Sunday that it has filed for bankruptcy and obtained $3.45 billion in financing as it carries out a restructuring plan,In 2022, Rite Aid paid up to $30 million to resolve lawsuits alleging pharmacies contributed to an oversupply of prescription opioids.
“We allege that Rite Aid filled hundreds of thousands of prescriptions that did not meet legal requirements,” Associate Attorney General Vanita Gupta said in a DOJ news release in March. Jeffrey S. Stein has been appointed chief executive officer, chief restructuring officer and a member of the company’s board of directors, effective immediately,“Rite Aid has served customers and communities across our country for more than 60 years, and the important actions we are taking today will enable us to move ahead as a stronger company,” Stein said Sunday.
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