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In 1996, Rite Aid acquired 1,000 West Coast stores from Thrifty PayLess Holdings, creating a chain with over 3,500 drug stores. [2] Thrifty PayLess, Inc. remained an active subsidiary of Rite Aid (owning stores purchased from Thrifty PayLess), as shown in the company's October 2023 Chapter 11 bankruptcy filings. [3]
In 1996, Rite Aid acquired Thrifty PayLess, a 1,000-store West Coast chain. The acquisition of Thrifty PayLess included the Northwest-based Bi-Mart membership discount stores, which was sold off in 1998. Acquisitions of Harco, Inc. and K&B, Inc. brought Rite Aid into the Gulf Coast area.
Bi-Mart: Bi-Mart's parent company, Thrifty PayLess was sold to Rite Aid in October 1996 for $1.3 billion. [31] Rite Aid sold Bi-Mart to Endeavour Capital in 1997. [32] By 2004, Endeavour Capital transferred ownership of the company to its employees through an employee stock ownership plan. [32] The chain is last operating former Pay n' Save ...
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'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 stock fell more than 50% Friday after The Wall Street Journal reported the retail pharmacy is preparing to file for Chapter 11 bankruptcy as it faces mounting costs related to opioid ...
Eckerd Corporation – acquired by CVS Pharmacy in the South and Rite Aid in the Northeast–Mid atlantic Region; Fantle's; Farmacias El Amal – San Juan, Puerto Rico, firm; 20 locations bought by Walgreens in 2008; remaining closed in 2011; Fay's Drug; G. O. Guy – acquired by Thrifty PayLess; Genovese Drug Stores; Gray Drug – purchased by ...
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 ...