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Major Pharmacy Chain Prepares to File for Bankruptcy

Pharmacy giant Rite Aid, which is facing an onslaught of lawsuits over its alleged role in the opioid epidemic, is planning to file for bankruptcy protection, according to a report.

The company’s multibillion-dollar debt load and pending legal allegations that it oversupplied prescription painkillers, will be covered under the Chapter 11 filing, The Wall Street Journal reported Friday, citing people familiar with the matter.

A Rite Aid spokesperson told FOX Business that the company does “not comment on rumors and speculation.”

Rite Aid, one of the nation’s largest pharmacy chains with more than 2,2000 locations, is facing numerous lawsuits for allegedly contributing to the opioid crisis that has taken a toll on communities nationwide.

The Department of Justice filed a lawsuit against Rite Aid earlier this year, claiming the company knowingly filled “unlawful prescriptions for controlled substances” in violation of the False Claims Act and Controlled Substances Act.

Rite Aid has denied allegations that it filled unlawful prescriptions, the Journal reported. A bankruptcy filing would also halt these suits for the time being and provide the company another pathway to resolve them, according to the newspaper.

READ 10 COMMENTS
  • Guest says:

    In today world No one wants to take responsibility for their own actions and everyone wants to shift blame to avoid taking responsibility for their actions or lack of actions. They say kids became addicted but where were their parents to supervise don’t be naive in thinking they did not know they just didn’t want to be parents. Then there the ones that that have pain but refuse corrective treatment knowing what they’re taking there becoming addicted to it , then there’s the ones the Doctor says I just gave you some so they doctor shop until they can convince another doctor to give more . There’s been a million excuses and millions that refuse to take responsibility . It boils down to the failure of society accepting that someone else is to blame. And society willingness not to hold people accountable and responsible for their own actions.
    Doctors treat what we ask them to treat but we lie to them for our own benefit then when it goes wrong we blame them now because a pharmacy filled that prescription now there responsible for the lie that was told to the doctor that gave the medication under good faith but was lied to . These medications are very good when used as prescribed for the time recommended , when people go beyond that they’re the only one that’s liable. But then we’re back to not taking responsibility.

  • RM says:

    I used to live in California and did business with Thrifty Drug Stores then came along with Rite Aid and bought them out. Best darn good ice crème you could eat. Rite Aid still sells it a good company I hope filing for bankruptcy will protect them.

  • John W. says:

    Rite Aid must have gotten caught contributing to Republicans. Obama / Biden’s jack boot DOJ will go after them.

    How about the disabled Vet who the FBI raided and killed. He was an old man. His mother and family can’t get information as why their home was raided.

    Beware of the FBI. They are now a political arm of the Democrat communists.

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