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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 roughly 1,250 stores in 15 U.S. states, primarily on the East and West coasts.
After filing for bankruptcy last week, Rite Aid is expected to shutter more than 150 stores across the U.S. — including dozens in Pennsylvania.. The company, which operated more than 2,000 ...
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.
The company underwent contraction over the next few years, with only 12 remaining drug stores in 1961, under the founder's grandson George D. Bartell. In 1966, seventy-six years after the company was founded, a 13th drug store was opened outside of King County in Edmonds, Washington.
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 ...
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