Rumors of Rite-Aid May be Closing Stores Across WA, OR, CA Soon
When you have a chain of stores across the United States and a location here and a location there close, it's not big deal. Sad to see it happen, but these things happen for whatever reason.
But when more and more stores close, it certainly sends the alarm as many are curious what's going on.
Rite-Aid just announced they closed a couple more stores, one in Idaho and one in New York.
As it turns out, they're under a lot of heat and could have be filing for Chapter 11 bankruptcy.
According To Reports, Rite Aid To File For Bankruptcy Protection
With 122 Rite-Aid locations just in Washington State alone, many of those in the Yakima Valley, that wouldn't be just the stores closing but so many employees would have to find new jobs. I'd hate to see it happen.
Retail Wire says that the bankruptcy comes from multiple debts and lawsuits. $3.3 billion in debts and lawsuits involving claimed overprescription of of opioid painkillers.
So far, there's no official word, but we'll let you know.
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