- Rite Aid is preparing to file for bankruptcy to address mass lawsuits over its alleged role in the sale of opioids.
- The chapter 11 filing would cover Rite Aid's $3.3 billion debt load and pending legal allegations.
- The company has not reached a settlement with opioid plaintiffs and plans to treat them as general unsecured claims.
- A bankruptcy filing would put the lawsuits on hold and provide a path for Rite Aid to resolve them in a single forum.
- Rite Aid is expected to join other pharmaceutical companies bankrupted by opioid litigation.
Rite Aid Prepares Bankruptcy That Would Halt Opioid Lawsuits
Rite Aid is preparing to file for bankruptcy in coming weeks to address mass lawsuits over the drugstore chain’s alleged role in the sale of opioids, according to people familiar with the company’s plans.
Alexander Gladstone,
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