Nationwide drugstore chain files goes bust and sparks closure fears

Rite Aid is filing for bankruptcy — again. Just seven months after emerging from Chapter 11, the drugstore chain is running out of money again and seeking a new owner.

Filing for bankruptcy protection allows it to negotiate with lenders to reduce its debts.

Announcing the move on Monday, Rite Aid said it will keep its 1,245 stores open during the bankruptcy process and will work to ensure customer prescriptions are transferred to other pharmacies as it seeks a sale.

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