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NEW YORK (Reuters) -A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.
Rite Aid is looking to close over two dozen more stores in two states. The drugstore chain on Monday filed a "notice of additional closing stores" with the U.S. Bankruptcy Court of the District of ...
Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing.
Rite Aid sued the U.S. Department of Justice on Thursday, seeking to block a lawsuit alleging that the bankrupt pharmacy chain ignored red flags and illegally filled hundreds of thousands of ...
Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.
In 2023, Rite Aid filed for Chapter 11 bankruptcy. [3] Despite Thrifty PayLess shutting down 27 years prior to Rite Aid's bankruptcy filing, Thrifty PayLess was still listed in the filing. [4]
Rite Aid, one of the largest U.S. pharmacy retailers, stumbled under its high debt, revenue declines, increased competition, and opioid litigation, according to its court filings.
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD. In October 2023, the company filed for Chapter 11 bankruptcy, due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis. [12]