All articles tagged with #rite aid bankruptcy
Major drugstore chains like Walgreens, CVS, and Rite Aid are closing hundreds of stores due to financial struggles, theft, underperformance, and lease issues, with Rite Aid planning to close all of its approximately 1,240 stores amid bankruptcy proceedings.
The American pharmacy industry is facing a severe crisis, exemplified by the closure of many Bartell Drugs locations in Seattle following Rite Aid's bankruptcy. Factors such as competition from online retailers, reduced reimbursements from pharmacy benefit managers (PBMs), and the opioid crisis have led to widespread pharmacy shutdowns. This has created "pharmacy deserts," particularly affecting underserved communities. The situation is dire for both large chains and independent pharmacies, with many struggling to stay afloat amid financial pressures and changing market dynamics.
The decline of Bartell Drugs, a 130-year-old family-owned pharmacy chain in Seattle, highlights a broader crisis in the American pharmacy industry. Factors such as competition from online retailers, reduced reimbursements from pharmacy benefit managers (PBMs), and the opioid crisis have led to widespread closures of both independent and chain pharmacies. This trend is creating "pharmacy deserts," particularly affecting underserved communities, and exacerbating the challenges in the U.S. health care system.
The humanitarian crisis in the Gaza Strip worsens as the death toll rises and essential supplies run out. Secretary of State Antony Blinken visits Israel to pledge support, while President Biden condemns the killing of a Palestinian American boy. A gag order hearing is set to determine whether Donald Trump should be restricted from making inflammatory comments about his Jan. 6 case. Ohio congressman Jim Jordan is nominated for House speaker, leading to potential chaos and infighting among Republicans. Rite Aid files for bankruptcy due to years of debt and lawsuits related to the opioid epidemic. Scientists are puzzled by a sudden spike in global warmth, and Suzanne Somers, known for her role in "Three's Company," passes away.