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Rite Aid, one of the largest U.S. pharmacy retailers, stumbled under its high debt, revenue declines, increased competition, and opioid litigation, according to its court filings.
Rite Aid filed for bankruptcy Sunday and will likely close hundreds of stores. - Angus Mordant/Bloomberg/Getty Images. CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021 ...
The pharmacy chain Rite Aid filed for bankruptcy in October. Since then, the chain closed hundreds of stores, including 16 more locations in Ohio during additional recent downsizing.
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 ...
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. [76] On November 29, Rite Aid announced the closure of 30 additional stores that would close by December 2023. [77]
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 ...
(Reuters) -Rite Aid will operate as a private company after it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, the U.S. drugstore chain said on Tuesday.
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 ...