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Rite Aid reportedly prepares to file for bankruptcy to shield it from opioid lawsuits

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The Chapter 11 filing would cover Rite Aid’s more than $3.3 billion debt load and pending legal allegations that it oversupplied prescription painkillers, the Journal reported.

Shares of the pharmacy retail chain operator fell 35% to 94 cents in afternoon trade.

The Chapter 11 filing would cover Rite Aid’s more than $3.3 billion debt load and pending legal allegations that it oversupplied prescription painkillers, the newspaper reported.Regionally focused Rite Aid operates more than 2,330 stores in 17 states, although it is much smaller than rivals like Walgreens Boots Alliance and CVS Health.

Along with other pharmacy chains, Rite Aid has been named a defendant in lawsuits that alleged they helped fuel the

 

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