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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 ...
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 filed a petition under Chapter 11 of the U.S. Bankruptcy Code on Oct. 15 amid flagging sales, mounting debt and several opioid-related lawsuits. According to the Wall Street Journal, the ...
Rite Aid plans to plans to close about 7% of its stores initially, as the drugstore chain makes its way through its Chapter 11 bankruptcy process. The company submitted a list of 154 stores in a ...
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 ...
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]
As Rite Aid restructures its debt in Chapter 11 bankruptcy, it will close 154 locations in 15 states, including 31 in California.