Lodi Valley News.com

Complete News World

Pharmacy chain bankruptcy filing

Pharmacy chain bankruptcy filing

The bankruptcy of a huge pharmacy in the country

a bankruptcy Having a large company is always a big scare for customers and other employees. The cause of a breakdown can be the most diverse. This is due to poor management, or just a crisis after a decline in sales.

But the bankruptcy that we will reveal today concerns billions of dollars in debt. According to information from Panorama Farmacêutico, the giant in question has debts of US$3.3 billion (R$16 billion) and still faces other problems in court.

A pharmacy chain has filed for bankruptcy (Photo: Disclosure/Rite Aid)

We are talking about Rite Aid, which, according to information on the Indústria S/A website, filed for bankruptcy protection in the United States on October 15 last year. The order comes on the heels of debt and a series of lawsuits alleging the pharmacy chain helped fuel the nation's opioid epidemic by illegally filling prescriptions for painkillers.

To get an idea of ​​the size of the giant, in the United States alone, the chain maintains 2,230 stores, spread across 17 states. With the filing for bankruptcy protection, he will work even though he owes creditors.

Rite Aid is a pharmacy chain fighting bankruptcy (Photo: Reproduction/Facebook)
Rite Aid is a pharmacy chain fighting bankruptcy (Photo: Reproduction/Facebook)

What are the giant's problems?

Debt aside, Rite Aid remains a defendant in several lawsuits related to its role in filling prescriptions for opioids. In 2017, for example, more than 1,000 opioid-related cases were consolidated in the U.S. District Court for the Northern District of Ohio. In March 2013, the Department of Justice filed its own complaint, alleging violations of the False Claims Act and the Controlled Substances Act.

Debts of 335 million Brazilian reais and asking for help: Honda's competitor pleads not to go bankrupt

Rival Bradesco's bankruptcy has been confirmed by Jornal Hogi (Photo: Reproduction, Montage - TV Foco)

See also  After Brazil, Jeep Compass 2022 debuted in the United States

1.5 billion Brazilian reais, crisis and closure: bankruptcy of Bradesco's rival bank confirmed in Jornal Huji

Bankruptcy of the giant confirmed by Globo (Image: Disclosure)

Millionaire's loss, cuts and massive sale: Jornal da Globo scares by confirming the bankruptcy of the giant in the country

Additionally, CFO Matthew C. Schroder told investors in the company's second-quarter earnings call that losses were about $9 million higher than last year. he added That the company closed stores In “high shrinkage areas”.

Ride Assistant (Photo Clone/Internet)
Ride Assistant (Photo Clone/Internet)

🚨 The star denounces the recording and the church + the disturbing case of Vanessa Lopez + Edo Guedes in the hut

Follow us on Instagram

Focus TV

📺 Everything you need to know about TV and celebrities.

@tvfocooficial

Follow now