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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.
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 regularly assesses its retail footprint to ensure we are operating efficiently while meeting the needs of our customers, communities, associates and overall business,” the retailer ...
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 ...
During her time at Rite Aid, Donigan closed more than 150 unprofitable stores. [12] Donigan was credited with avoiding the bankruptcy for Rite Aid by pushing debt payments due in 2022 to 2025; however, Deutsche Bank warned the company was in danger of a "dramatic negative inflection point" in April 2022. Other analysts were less skeptical of ...
Rite Aid filed a petition under Chapter 11 of the U.S. Bankruptcy Code on Oct. 15 amid flagging sales, mounting debt and several opioid-related lawsuits. According to the Wall Street Journal, the ...
In June 1999, Rite Aid entered into a ten-year strategic relationship with Drugstore.com which allowed Drugstore.com customers to pick up prescriptions at Rite Aid stores, and enabled Drugstore.com to sell Rite Aid products, as well as vitamins from retailer General Nutrition Center (GNC). On September 3, 2008, Drugstore.com amended and ...
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 ...