Rite Aid prepares to file for bankruptcy: report
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."
The law firm reportedly handling the restructuring, Kirkland...