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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 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.
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'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 ...
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States. The combined company was formed in April 1994 when Los Angeles–based TCH Corporation, the parent company of Thrifty Corporation and Thrifty Drug Stores, Inc., acquired the Kmart subsidiary PayLess Drug Stores Northwest, Inc. [1] At the time ...
(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 had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.. The first tranche of stores to be ...