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Rite Aid is closing multiple locations after filing for bankruptcy last year. See the full list of Rite Aid store closures for 2024. ... and the addition of June's list brings the total number of ...
Pharmacy chain Rite Aid announced it has filed for Chapter 11 bankruptcy, which will likely result in the closure of a number of locations. In a statement released by the chain on Sunday, Rite Aid ...
Bankruptcy could also help Rite Aid to resolve its legal disputes at a vastly reduced cost. ... The number of independent pharmacies decreased by nearly 50% from 1980 to 2022, according to ...
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 ...
Rite Aid has obtained more than $100 million in financing to exit the bankruptcy proceedings, but the latest closure announcements suggest it still faces hurdles in getting official approval to do so.
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]
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 ...
Rite Aid’s bankruptcy reflects long-term struggles in the retail pharmacy industry. ... The number of independent pharmacies decreased by nearly 50% from 1980 to 2022, according to McKinsey. ...