Rite Aid Prepares for Bankruptcy to Address Opioid Crisis Lawsuits and Debt

Rite Aid plans to file for Chapter 11 bankruptcy to deal with lawsuits related to its alleged role in the US opioid crisis.
The bankruptcy would address Rite Aid's $3.3 billion debt load and temporarily halt pending lawsuits over opioid prescriptions.
Rite Aid faces over 1,000 federal lawsuits, a civil suit from the DOJ, and falling revenue.
Other pharmacies like Walgreens and CVS have also faced lawsuits over their role in the opioid epidemic.
Rite Aid denies allegations of illegally filling opioid prescriptions but sees bankruptcy as a way to resolve the claims.