Rite Aid chain reportedly could sell up to 500 stores in bankruptcy plan

There are currently more than 2,400 Rite Aid locations on the East Coast and West Coast. Reports indicate that the pharmacy chain may look to sell up to 500 of these stores in a bankruptcy filing. The company is struggling with debt and financial losses. It is thought that Rite Aid may explore a potential bankruptcy filing in an effort to restructure its existing debt. If the chain were to file for bankruptcy, it could look to close or sell a significant number of stores in order to help further reduce its debt.