PHILADELPHIA (WPVI) -- Struggling pharmacy chain Rite Aid plans to close hundreds of stores as part of a bankruptcy plan. That's according to a report from the Wall Street Journal. Rite Aid, now based in Philadelphia, is looking to close more than 400 locations as part of the plan, according to the report.

Rite Aid is reportedly planning to declare bankruptcy and close up to 500 of its 2,100 stores. The pharmacy chain is facing $3.3 billion in debt and numerous lawsuits about its alleged role in the opioid epidemic.

The drugstore retailer is in negotiations with creditors over a plan that could see nearly a quarter of its stores shutter, The Wall Street Journal reported.

Rite Aid is getting ready to close hundreds of stores as it gets ready to file for bankruptcy, reports the Wall Street Journal. The Philadelphia-based retailer has over 2,100 locations, and the ones which are not closed will either be sold or taken over by creditors. It’s speculated that as many as 500 stores could be closed.