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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 closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing.
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 ...
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, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.
Pharmacy chain Rite Aid announced it has filed for Chapter 11 bankruptcy, which will likely result in the closure of a number of locations.
In 2023, Rite Aid filed for Chapter 11 bankruptcy amid several opioid lawsuits and declining sales. [4] Despite Read's shutting down 40 years prior to the filing, Read's was still listed in the bankruptcy filing.
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.
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