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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 ...
Parija Kavilanz, CNN. 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 ...
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [ 10] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.
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 said Rite Aid ...
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 ...