Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that might include liquidating a considerable portion of its greater than 2,100 drugstores, the Wall Street Journal reported Friday, citing people acquainted with the talks.
The corporate has proposed to close roughly 400 to 500 stores in bankruptcy, and either sell or let creditors take over its remaining operations, according to the report.
![Bare shelves at Rite Aid](https://nypost.com/wp-content/uploads/sites/2/2023/09/NYPICHPDPICT000026898357.jpg?w=1024)
Given the conversations remain ongoing, no decisions have been made right now, Rite Aid said.
The Philadelphia-based company faces greater than $3.3 billion in debt and over a thousand federal lawsuits alleging it oversupplied opioids, the Journal reported. The corporate operates greater than 2,330 stores in 17 states, even though it is way smaller than rivals reminiscent of Walgreens Boots Alliance and CVS Health.