US pharmacy chain Rite Aid files for bankruptcy amid opioid suits

[superadmin]

NEW YORK: US pharmacy chain Rite Aid filed for bankruptcy Sunday, the company said, after suffering declining sales and legal threats over its alleged involvement in the opioid crisis.

Rite Aid has one of the largest pharmacy networks in the United States, with 2,100 outlets selling medicines and health products as well as food and hygiene items.

The Philadelphia-based group said it had already reached agreements with several major creditors to restructure its debt, according to a press release.

It also said it had received commitments for US$3.45 billion in new financing, which should enable it to continue operating.

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