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Report: Rite Aid to close up to 500 stores, locations unknown

The PA-based pharmacy operates nearly 40 locations in the Pittsburgh area

Shelves, many bare of merchandise, stand in a Rite Aid store
Shelves, many bare of merchandise, stand in a Rite Aid store
(Photo by Spencer Platt/Getty Images)

Pennsylvania-based pharmacy chain Rite Aid is expected to close hundreds of stores as part of a Chapter 11 bankruptcy reorganization, according to a report.

The Wall Street Journal says the company, founded in Camp Hill, Pennsylvania, has billions of dollars in debt, around $3 billion.


In addition, the company is facing several lawsuits related to the opioid crisis.

The company is expected to close between 400 to 500 stores across the country, as Rite Aid continues.

No word on what locations, of the 2,100 around the country will close as of yet.

There are nearly 40 locations in the Pittsburgh area.

Rite Aid's stock continued to tumble on Monday, closing at 39 cents.

The PA-based pharmacy operates nearly 40 locations in the Pittsburgh area