Rite Aid to close hundreds of stores in bankruptcy: report

Rite Aid eyes closing hundreds of stores as it mulls bankruptcy: Report

FILE - In this June 20, 2011 file photo, a woman exits a Rite Aid store, in Philadelphia. Rite Aid on Thursday, April 10, 2014 reported its sixth-straight quarterly profit and announced an acquisition that aims to strengthen the drugstore chain's foothold in the burgeoning health care market. (AP Photo/Matt Rourke, File) Matt Rourke Rite Aid eyes closing hundreds of stores as it mulls bankruptcy: Report Zach Vasile S…

Rite Aid to close hundreds of stores in bankruptcy: report

Pharmacy giant Rite Aid is negotiating terms of a bankruptcy plan that could see a significant number of its more than 2,100 drugstores permanently close, according to a report. People familiar with the company's talks with creditors told the Wall Street Journal that Rite Aid has proposed to close as many as 500 stores in bankruptcy, and either sell or let creditors take over its remaining operations. One group of bondholders wants to liquidate …