Rite Aid nearing bankruptcy, national outlets report
KAYLEE LINDENMUTH / SHENANDOAH SENTINEL - Rite Aid in Shenandoah on Sept. 16, 2020.
PHILADELPHIA – The only drugstore chain with locations in our area is nearing bankruptcy, multiple national outlets are reporting.
Rite Aid, the seventh-largest drugstore chain in the nation, is reportedly preparing to file for Chapter 11 bankruptcy, both Bloomberg and the Wall Street Journal has reported.
The Philadelphia County-based drugstore has locations in downtown Shenandoah as well as Ashland, Frackville, and Mahanoy City and is the only drugstore chain with locations in northern Schuylkill County.
The company has more than $3 Billion in debt and has been in the midst of a legal battle with the Department of Justice over “unlawful prescriptions.”
According to the Wall Street Journal, the bankruptcy filing would “address lawsuits the drugstore chain is facing over its alleged role in the sale of opioids.”
Rite Aid also announced last week that their downtown Pottsville location will close on Sept. 5.
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