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US pharmacy chain Rite Aid to operate as a private company as it emerges from bankruptcy

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Rite 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.

<p>NEW YORK — Rite 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.

</p><p>Ownership of the company has transitioned to certain Rite Aid creditors, and all of Rite Aid's existing common shares were canceled, it said.

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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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