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Economy
Rite Aid files for bankruptcy as it can't pay hundreds of lawsuits about oversupplied opioids painkillers - leaving an uncertain fate for its 2,100 stores
2023-10-16
[Daily Mail, where America gets its news]
  • The famous drug store retailer filed for Chapter 11 bankruptcy Sunday

  • Rite Aid was unable to settle hundreds of lawsuits that accused them of oversupplying opioids

  • It is unclear just how many stores will close, or any possible locations
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Rite Aid: 2021-12-27 Don Surber - Left denies there's a shoplifting boom
Rite Aid: 2021-10-05 22-Year-Old NYC Man Arrested 46 Times This Year for Retail Thefts
Rite Aid: 2020-11-18 Amazon Pharmacy announcement sends stocks of drugstore chains tumbling
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Posted by:Skidmark

#9  3000 brick and mortar banks have closed also in this country. Problem areas have lost banks already.
Posted by: Dale   2023-10-16 23:24  

#8  When do we start hearing about "DRUG" deserts>
Posted by: AlanC   2023-10-16 15:30  

#7  By the article, all the major pharmacies had similar suits but have settled. RiteAid had more cash flow issues so they were unable to use the same plan. Maybe RiteAid makes it out; maybe they don’t. I don’t see any advantage to CVS or Walgreens buying them. They all have stores on the same blocks. If they whack stores, it will be in inverse order of profitability. The locations with excess theft will not make the cut.
Posted by: Super Hose   2023-10-16 13:01  

#6  OK! A Bigger deeper question.

Which storeS and their locations?
Posted by: NN2N1   2023-10-16 11:06  

#5  Pill counters who believe they know more than the prescribing physician does. Oh, BTW, pharmacies made money off the opoid crisis too.
Posted by: M. Murcek   2023-10-16 10:47  

#4  refused to fill the prescriptions

Sounds like a lawsuit, too!
Posted by: Frank G   2023-10-16 09:57  

#3  
#2 lawsuits that accused them of oversupplying opioids

Without prescriptions or not? Kinda seems to make a difference
Posted by: Frank G 2023-10-16 07:00


Frank,

The reasoning - as I understand it - is that the drugstores 'should have known' that something was wrong and refused to fill the prescriptions.

Mike
Posted by: MikeKozlowski   2023-10-16 09:39  

#2  lawsuits that accused them of oversupplying opioids

Without prescriptions or not? Kinda seems to make a difference
Posted by: Frank G   2023-10-16 07:00  

#1  
What next, Lawyers suing the Fed's for seized Drug Cartels $$M & assets?

The DC Swamp is likely to be upset that its dark $$M source is being hampered.

Posted by: NN2N1   2023-10-16 06:40  

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