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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.
U.S. Bankruptcy Judge Michael Kaplan approved Rite Aid's voting proposal at a court hearing in Trenton, New Jersey, saying that the bankruptcy case needed to move quickly to avoid further ...
MedImpact’s attempt to recoup approximately $200 million following its purchase of Rite Aid Corp’s (OTC:RADCQ) pharmacy benefits unit has failed. U.S. Bankruptcy Judge Michael Kaplan ruled ...
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.
Kaplan had previously approved MedImpact's $575 million purchase of Elixir, and he ruled that the sale agreement transferred those debts to the buyer.
Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing.
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.
The deal was approved by the U.S. bankruptcy court for the Southern ... Rite Aid now accepts J. C. Penney credit cards, even at Rite Aid locations that existed before ...