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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 ...
October 19, 2023 at 8:50 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, 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 ...
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 stock fell more than 50% Friday after The Wall Street Journal reported the retail pharmacy is preparing to file for Chapter 11 bankruptcy as it faces mounting costs related to opioid ...
Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.. The company appointed Jeffrey Stein as its new ...
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.
Eckerd's remaining JCPenney Catalog Centers were closed in favor of Rite Aid choosing to accept JCPenney charge cards chainwide. In 2023, Rite Aid filed for Chapter 11 bankruptcy amid several opioid lawsuits and declining sales. Despite Eckerd having shut down 16 years prior to the filing, Eckerd was still listed in the bankruptcy filing.