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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.
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 ...
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 ...
On November 16, Rite Aid sued the United States Department of Justice in an effort to block an opioid lawsuit that accused the company of ignoring warnings and falsely filed thousands of prescriptions for addictive opioid medications. [76] On November 21, a bankruptcy judge ordered Rite Aid to fully reorganize its operations by March 1, 2024.
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 asked a court to dismiss the department’s lawsuit and denied allegations that it filled unlawful opioid prescriptions. — CNBC’s Christine Wang contributed to this report. Rite ...
Rite Aid filed for Chapter 11 bankruptcy protection Sunday, a casualty of a miserable environment for drug stores, exacerbated by its runner-up status to bigger chains and expensive legal battles ...
Rite Aid said it raised $3.45 billion in new financing to keep operating while going through the bankruptcy process. The company also hired a new CEO, Jeffrey Stein, who will also serve as the ...