By Aaron Pan Rite Aid filed for Chapter 11 bankruptcy protection as the company has struggled with slowing sales, mounting debt, and multiple lawsuits alleging the pharmacy chain’s responsibility for the opioid crisis across the United States. The Philadelphia-based company, which filed for bankruptcy protection on Oct. 15, announced that it would begin a restructuring […]
Tag: Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.