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Rite Aid has $4 billion in debt, $8.6 billion in total liabilities and $7.65 billion in assets, according to court filings in the U.S. Bankruptcy Court for the District of New Jersey.
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.
While it has secured $3.5 billion in financing and debt reduction agreements from lenders to keep the company afloat through its bankruptcy, Rite Aid said it would accelerate store closures and ...
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 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 ...
Rite Aid has already seen its share of stores close in recent years, ... Rite Aid files for bankruptcy, plans to close some stores. Justin Boggs. October 16, 2023 at 11:33 AM.
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.
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 ...