In a move that highlights the struggles of the U.S. pharmacy industry, major chain Rite Aid filed for bankruptcy this past Sunday.

The company is facing a tough time with sinking sales and costly lawsuits related to the opioid crisis.

To get through these challenges, Rite Aid has secured $3.45 billion in new funding. T

his money will help the company reduce its debt and plan for future growth, according to an announcement from Rite Aid.

Last year, Rite Aid paid up to $30 million to settle lawsuits claiming it had a role in the over-supply of prescription opioid drugs.

The company made it clear that the bankruptcy filing is part of a larger plan to get its finances in order. “The plan will significantly reduce the company’s debt” and help to “resolve litigation claims in an equitable manner,” Rite Aid stated.

The U.S. Justice Department has also put pressure on Rite Aid.

This past March, the agency accused the company of knowingly filling hundreds of thousands of illegal prescriptions for controlled substances from May 2014 to June 2019.

The Justice Department claimed Rite Aid and its pharmacists ignored “red flags” that should have shown these prescriptions were not legitimate.

Amid these challenges, the company has also seen a leadership change.

Jeffrey Stein, who leads a financial advisory firm, took over as Rite Aid’s CEO this Sunday. He replaced Elizabeth Burr, who was serving as interim CEO and will remain on the company’s board.

Earlier this month, Rite Aid told the New York Stock Exchange that it wasn’t meeting their listing standards, but the company’s stock will continue to be traded during a grace period.

Rite Aid says that the bankruptcy and stock exchange issues won’t impact its day-to-day business or its reporting requirements to the U.S. Securities and Exchange Commission.

As for its stores, Rite Aid plans to shut down some that aren’t doing well, out of its more than 2,100 locations across 17 states.

The company recently reported a drop in revenue to $5.7 billion for the quarter ending on June 3, down from $6.0 billion the previous year.

They also posted a net loss of $306.7 million for this period.

In short, Rite Aid is going through an extremely rocky period.

The company is tackling both legal and financial troubles while trying to chart a path toward a more stable future.

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