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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 ...
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, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.
This may be because Rite-Aid's James P. Mastrian, who is the Executive Vice President of Marketing, held the same position at Revco from 1994 to 1997. Twins Days , a festival honoring the twin brothers who founded the city of Twinsburg , was the brainchild of Charles R. DeHaven, then Revco's Assistant Vice President of Public Relations .
See the full list of Rite Aid store closures for 2024. Rite Aid is closing multiple locations after filing for bankruptcy last year. See the full list of Rite Aid store closures for 2024.
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.
Rite Aid said in a recent Securities and Exchange Commission filing that it has more than 2,200 locations in 17 states. Rite Aid plans to plans to close about 7% of its stores initially, as the ...
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 ...