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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 ...
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.
A bankruptcy filing would list those opioid claimants as unsecured claimants, according to the Journal. Additionally, the bankruptcy could help Rite Aid reject lease payments at stores it plans to ...
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 ...
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 filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.