iRite Aid Corporation, one of the largest pharmacy chains in America, filed for Chapter 11 bankruptcy protection in the District of New Jersey bankruptcy Court, docket #23-18993 (MBK) on October 15, 2023. According to The New York Times, heavy debt, declining sales, and more than a thousand federal, state, and local lawsuits claiming it filled thousands of illegal prescriptions for painkillers led the retail pharmacy to seek bankruptcy protection. Rite Aid has about 2,000 locations in 17 states.
The company has filed a number of motions for first day orders that is set for 1:00 pm today, October 16, 2023 before the Court.
