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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, 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 ...
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]
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 ...
On November 21, a bankruptcy judge ordered Rite Aid to fully reorganize its operations by March 1, 2024. Rite Aid warned that if it failed to fully reorganize by the deadline, the company could face liquidation. On November 29, Rite Aid announced the closure of 30 additional stores that would close by December 2023.