
MONDAY, Oct. 16, 2023 (HealthDay News) -- The drugstore chain Rite Aid has filed for Chapter 11 bankruptcy, due largely to competition and thousands of lawsuits for its role in allegedly filling unlawful opioid prescriptions.The company filed a notice Thursday with the U.S. Securities and Exchange Commission saying it would not be able to file its latest quarterly financial report before filing for bankruptcy on Sunday, CNN reported Monday.“It was always a matter of when, not if, Rite Aid would file for bankruptcy,†said Neil Saunders, managing director of GlobalData, in a note to investors. “The company has been deep in the red for the past six years.â€CVS and Walgreens have suffered, too, the news report notes, as big-box stores like Costco, Target and Walmart emerge as...