Rite Aid files for bankruptcy
Pharmacy chain Rite Aid filed for bankruptcy this weekend, after lawsuits alleging the over prescription of opioids drained their finances. Total debt is listed at $8.6 billion as of June 3. Total assets are listed at $7.6 billion. Underperforming locations have already begun to close.
Elf Bar finds a way around ban
After being banned by the Food and Drug Administration, Elf Bars are back under a new name – EBCreate. The top-selling disposable electronic cigarettes generated $271 million in revenue last year. “The FDA has confiscated more heads of romaine lettuce than it has illegal e-cigarettes in the last five years,” Desmond Jenson, an attorney at the Public Health Law Center said in a statement.