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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'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 ...
Asked about bankruptcy preparations on Friday, Rite Aid said, "We do not comment on rumors and speculation." Over the past year, the company's stock has lost 90% of its value. The company's market ...
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.
Bartell's was believed to be the nation's oldest existing family-owned drugstore chain until it was sold to Rite Aid in 2020. 1890 to 1956 [ edit ] Bartell Drugs was founded in 1890 when George H. Bartell Sr. (1868–1956) purchased the Lake Washington Pharmacy at 2711 South Jackson Street in Seattle's Central District . [3]
After filing for Chapter 11 bankruptcy protection, Rite Aid said it will receive $3.45 billion in new financing to help the company keep remaining stores open and employees paid while it undergoes ...
Rite Aid has announced it will close at least 154 stores as part of its bankruptcy process. The chain had 2,253 stores as of Sept. 3, and the U.S. Bankruptcy Court in New Jersey also approved ...
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 ...