Rite Aid could be set to shutter hundreds of its outlets across the US as part of a new bankruptcy plan.
According to the Wall Street Journal, which cited unnamed sources familiar with the discussions, the third-largest US drugstore chain is in talks with its creditors to draft a survival plan. The report said Rite Aid has proposed the closure of 400-500 of its 2,300+ drugstores as well as the sale of its remaining operations (or letting creditors take over the same).
Rite Aid has declined to comment on the report, noting that it remains in conversation with its creditors and that no decisions have yet been taken.
NAM Implications:
- It’s called Lockdown fallout, folks!
- With much still to emerge from the pipeline…
