Rite Aid files for second bankruptcy in two years
- Rite Aid announced plans to file for Chapter 11 bankruptcy again in 2025, aiming to sell most of its assets while keeping its stores operational.
- The decision follows its initial bankruptcy in October 2023, after which Rite Aid restructured but still struggled with debt, inflation, and weaker demand.
- After closing around 850 stores and cutting debt by $2 billion, Rite Aid emerged as a private company with reduced scale but ongoing financial strain.
- Chief Executive Matthew Schroeder stated the company faces lenders unwilling to fund payroll fully and cited supplier payment restrictions, while Rite Aid secured $1.94 billion financing to support the sale.
- This second bankruptcy signals Rite Aid's continued financial challenges amid a tough retail drugstore environment and plans for a sale and customer prescription transfers.
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281 Articles
Rite Aid adds 8 more Oregon stores to growing list of national closures: court docs
(NEXSTAR) — As Rite Aid continues through its second bankruptcy filing in as many years, another round of nearly 70 stores is expected to close, court documents show. Last week, 47 stores across nine states, including Oregon, were identified in court documents as likely to close as part of the first wave of closures. Did Siri snoop on you? How much of the $95M settlement you could receive Court documents filed Friday identified another 68 …
Morro Bay residents concerned about prescriptions amid Rite Aid bankruptcy
Rite Aid has filed for bankruptcy for the second time in two years. This is a really high-volume pharmacy in this Rite Aid, said Lee Becker, Morro Bay resident.A Rite Aid spokesperson tells KSBY that in the coming months, Rite Aid stores will either close or be under new ownership.As the only major drugstore in Morro Bay, some community members are worried about what this could mean for them.So many of us do get our prescriptions filled here, an…
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