On Sunday, U.S. pharmacy chain Rite Aid officially filed for Chapter 11 bankruptcy.
Just last Thursday, the company filed with the U.S. Securities and Exchange Commission advising it would be unable to file a quarterly financial report due to considering “strategic alternatives.”
In the filing, the company indicated its losses would increase significantly during the current financial quarter.
Rite Aid previously experienced nearly $3 billion in losses over the past three years alone.
