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(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, one of the largest U.S. pharmacy chains, received permission from a U.S. judge on Thursday to begin voting on a bankruptcy restructuring plan that would turn over most of the company's ...
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 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.
Rite Aid's adjusted operating profits from its retail pharmacy in the third quarter rose to $125.9 million from $88.6 million a year ago. ... 100 weeknight dinners so good we need to tell everyone ...
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [1] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with nearly 1,300 stores in 16 U.S. states, primarily on the East and West coasts.
Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses and its stock is down more than 90% for the year.
Rite Aid has also struggled to keep up with its bigger rivals, CVS and Walgreens, as those companies have pivoted to a health care focus and made sizable investments to match.