The Philadelphia-based company, which was based in East Pennsboro Township near Camp Hill for decades, said it has exited bankruptcy “with a right-sized store footprint, more efficient operating model, significantly less debt and additional financial resources.”
Ownership of the company transitioned to certain Rite Aid creditors, and all of Rite Aid’s existing common shares were canceled, the company announced.
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Rite Aid Picks Insider CEO As Company Emerges From BankruptcyBruce Japsen has written about healthcare business and policy for three decades. He has covered the rise, fall and rise again of health reform, chronicling trends that include the influence of Bill and Hillary Clinton to Barack and Michelle Obama from Chicago where he's based.
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US pharmacy chain Rite Aid to operate as a private company as it emerges from bankruptcyRite 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.
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