'Rite Aid Prepares To File Chapter 11 Bankruptcy Within Weeks; Nears Bankruptcy Filing To Address Opioid Lawsuits; Prepares Bankruptcy That Would Halt Opioid Lawsuits, Sources Say' - WSJ
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Rite Aid is reportedly preparing to file for Chapter 11 bankruptcy within weeks. The move is seen as a strategy to address ongoing opioid lawsuits, according to sources cited by the Wall Street Journal.
August 25, 2023 | 4:01 pm
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Rite Aid's potential bankruptcy filing could have a significant negative impact on its stock price in the short term.
Bankruptcy filings typically lead to a significant drop in a company's stock price as it indicates financial distress. In addition, the ongoing opioid lawsuits add to the company's legal and financial troubles, further pressuring the stock.
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