Rite Aid faces more than $3.3 billion in debt and over a thousand federal lawsuits alleging it oversupplied opioids, the Journal reported.
The company 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.
Given the conversations remain ongoing, no decisions have been made at this time, Rite Aid said., the Journal reported. The company operates more than 2,330 stores in 17 states, although it is much smaller than rivals such as Walgreens Boots Alliance and CVS Health.
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