Recently, Rite Aid's cash has dwindled, with revenue in the last quarter down six percentage points. Rite Aid’s stock price fell 51% to 71 cents a share. Along with pending legal allegations, Rite Aid is preparing to file for bankruptcy, according to The Wall Street Journal.

The chapter 11 filing would cover Rite Aid’s more than $3.3 billion debt load and pending legal allegations that it oversupplied prescription painkillers, the Journal said.

In March, the United States Department of Justice filed a complaint against the Rite Aid Corporation under the False Claims Act alleging that the company knowingly filled unlawful prescriptions for controlled substances. Additionally, Rite Aid faces more than a thousand federal lawsuits that were consolidated into a multidistrict litigation in Ohio and a significant number of similar cases pending in state courts that allege it contributed to the opioid epidemic, according to the Journal.

Rite Aid has asked a court to dismiss the department’s lawsuit and denied the allegations that it filled unlawful prescriptions for controlled substances. A bankruptcy filing would put those lawsuits on hold and open a path for Rite Aid to resolve them in a single forum.

The Wall Street Journal reports that Rite Aid is expected to join pharmaceutical manufacturers Purdue Pharma, Mallinckrodt and Endo International as companies bankrupted by opioid litigation.

In overall market trends, NACS reports that drug stores show a market decline while c-stores show market growth with a 1.5 percent increase from last year, as convenience and dollar stores become more prevalent.