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By Dietrich Knauth. NEW YORK (Reuters) - 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 ...
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.
There are now 61 locations, according to the Rite Aid website. Rite Aid filed for bankruptcy as it faced slumping sales and more than 1,000 federal, state and local lawsuits accusing it of fueling ...
Rite Aid. Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [ 10] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.
October 19, 2023 at 11:50 AM. 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 ...
Updated June 20, 2024 at 8:17 AM. Angus Mordant. Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing. The store locations ...
Rite Aid has $4 billion in debt, $8.6 billion in total liabilities and $7.65 billion in assets, according to court filings in the U.S. Bankruptcy Court for the District of New Jersey.
Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits. The company said Rite Aid ...