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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 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.
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 ...
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'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 ...
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 ...
Rite Aid, which once had a market cap of nearly $13 billion in 1998, filed for bankruptcy on Sunday with a market cap under $40 million. Shares were about 6% lower in premarket trading Monday ...
Read's Drug Store. Coordinates: 39°17′29.17″N 76°37′9.88″W. Read's Drug Store was a chain of stores based in Baltimore, Maryland. Read's Drug Store was founded by William Read. He sold it to the Nattans family in 1899. [1] The downtown store was constructed in 1934 by Smith & May, Baltimore architects also responsible for the Bank of ...