One of the largest U.S. drugstores chains Rite Aid is set to close around 500 stores nationwide as it negotiates a plan to file for Chapter 11 bankruptcy. reported that the firm, which is the third largest in the country, is looking to close branches and either sell or let creditors take over their remaining operations. The outlet reported that a group of bondholders would prefer to liquidate a large number of their stores, with the two sides in discussion over how many stores to close.
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