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June 28, 2024 at 4:14 PM. By Dietrich Knauth. 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 ...
Rite Aid asked U.S. Bankruptcy Judge Michael Kaplan to rule that the DOJ lawsuit cannot proceed while Rite Aid is bankrupt, which would put the government on equal footing with other opioid ...
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 ...
Rite Aid is working to finalize the settlement and will submit it to the court for approval, Sussberg told U.S. Bankruptcy Judge Michael Kaplan, who is overseeing the case.
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. [74] 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 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’s filing ...
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 ...
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