Rite Aid is shuttering 53 additional stores in nine states across the U.S. as part of the company's bankruptcy proceedings, according to recent court filings. Stores are closing in California, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania and Virginia.
FTC BANS RITE AID'S USE OF AI FACIAL RECOGNITION OVER LACK OF CONSUMER PROTECTIONS Rite Aid has denied any wrongdoing, but is also still finalizing some settlements considered key to the restructuring process, including an agreement related to a Justice Department probe of the pharmacy's opioid sales, according to Reuters. But lawyers for the company said it is ready to solicit votes from bondholders, who are the critical voting class in its bankruptcy.
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Philadelphia pharmacists raise alarm about industry struggles as Rite Aid closes more storesThe Philadelphia Association of Retail Druggists says many pharmacies are losing money on prescription reimbursements, causing many stores to shut down.
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