US EditionRite Aid files for second bankruptcy in two years
- Rite Aid announced plans to file for Chapter 11 bankruptcy again in 2025, aiming to sell most of its assets while keeping its stores operational.
- The decision follows its initial bankruptcy in October 2023, after which Rite Aid restructured but still struggled with debt, inflation, and weaker demand.
- After closing around 850 stores and cutting debt by $2 billion, Rite Aid emerged as a private company with reduced scale but ongoing financial strain.
- Chief Executive Matthew Schroeder stated the company faces lenders unwilling to fund payroll fully and cited supplier payment restrictions, while Rite Aid secured $1.94 billion financing to support the sale.
- This second bankruptcy signals Rite Aid's continued financial challenges amid a tough retail drugstore environment and plans for a sale and customer prescription transfers.
80 Articles
80 Articles
Major drugstore chain files bankruptcy again after closing 800 stores
Rite Aid Corp is preparing to sell itself in pieces as it heads toward its second bankruptcy, less than a year after its emergence from Chapter 11 (Picture: Getty Images) The American drugstore chain Rite-Aid has filed for bankruptcy for the second time in two years and is set to cut more jobs. Rite-Aid on Monday stated that it is trying to sell all of its assets and that stores will stay open during the Chapter 11 proceedings. The pharmacy chai…
Rite Aid Files for Second Bankruptcy in Under 2 Years
Rite Aid is again seeking bankruptcy protection as the struggling drugstore chain says it will try to sell substantially all of its assets. The company said Monday that its stores will remain open as it returns to Chapter 11 bankruptcy proceedings. The company said it will work to ensure that...
Sun-Sentinel
Rite Aid returns to bankruptcy protection as it seeks to sell most assets
By TOM MURPHY, Associated Press Rite Aid is again seeking bankruptcy protection as the struggling drugstore chain says it will try to sell substantially all of its assets. The company said Monday that its stores will remain open as it returns to Chapter 11 bankruptcy proceedings. The company said it will work to ensure that customer prescriptions are transferred to other pharmacies as it goes through the sale process. The drugstore chain has lin…
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