Months after pharmacy chain Rite Aid filed for bankruptcy and got fresh financing amid struggling sales and opioid-related lawsuits, the company says it has completed its restructuring.
Rite Aid said it planned to close down 154 stores after it filed for Chapter 11 protection in October 2023. Since then, more than 520 Rite Aid pharmacies have closed, about a quarter of the 2,111 pharmacies open at the time of the bankruptcy filing.
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Rite Aid exits bankruptcy as a private company owned by creditorsThe company has closed more than 800 stores since October.
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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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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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