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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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