Rite Aid Chapter 11 (2023)
Rite Aid, once one of America's largest pharmacy chains, filed for Chapter 11 in October 2023. It was squeezed by bigger rivals CVS and Walgreens, by Amazon's pharmacy push, and by billions in opioid litigation debt. It closed roughly 150 stores.
The chain restructured under court protection and shrank to fewer locations.
The case showed that being an established player does not protect a retailer from debt and competitive pressure.
A direct parallel to Gabriel's: an established operator loaded with debt, squeezed by larger chains, turns to bankruptcy to survive.
