Rite Aid Corp.’s stock RAD slid another 3.8% Wednesday to a fresh record low, bringing its five-day loss to 23%. The stock has been under pressure since a Bloomberg report last week that the company is working with banks and lawyers to reorganize its debt, which totals about $2.9 billion, the bulk of which comes due in 2025 and 2026. Rite Aid is scheduled to report fiscal first-quarter earnings on Thursday and is expected to swing to a loss of $1.
8% Wednesday to a fresh record low, bringing its five-day loss to 23%. The stock has been under pressure since a Bloomberg report last week that the company is working with banks and lawyers to reorganize its debt, which totals about $2.9 billion, the bulk of which comes due in 2025 and 2026. Rite Aid is scheduled to report fiscal first-quarter earnings on Thursday and is expected to swing to a loss of $1.