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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.
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, one of the largest U.S. pharmacy ...
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 are in Ohio and Michigan. More ...
Rite Aid's bankruptcy plan, revised on Thursday, would cut $2 billion in debt and provide $47.5 million to junior creditors, including individuals and local governments who have sued the company ...
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 ...
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, which filed for Chapter 11 bankruptcy on Sunday night in New Jersey, sued McKesson the following morning, seeking to stop it from terminating a drug supply agreement that accounts for 98 ...
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 a statement released by the chain on Sunday, Rite Aid ...