PHILADELPHIA (AP) – Major U.S. pharmacy chain Rite Aid has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. Rite Aid said it would also close “under performing” stores. It is among the companies that has faced lawsuits over the opioid epidemic. In 2022, Rite Aid settled for up to $30 million to resolve lawsuits alleging its pharmacies contributed to an oversupply of prescription opioids.
