Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case
Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.
Catching Up With New Bankruptcy Case Action
Weight loss business WeightWatchers entered Chapter 11 in Delaware, as did medical technology company Accelerate Diagnostics Inc. and California-based biotechnology company Synthego Corp. Here are the week's new bankruptcy cases.
Rite Aid Back In Ch. 11, Tupperware Gets OK To Liquidate
Drugstore chain Rite Aid reentered bankruptcy less than a year after its earlier reorganization plan was approved, and received a bankruptcy court's permission to conduct asset sales. Food storage container maker Tupperware Brands Corp. received court approval for its Chapter 11 liquidation plan. And a Washington University law professor was named the consumer privacy ombudsman in 23andMe's Chapter 11 case.
Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case
Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.
Catching Up With New Bankruptcy Case Action
Weight loss business WeightWatchers entered Chapter 11 in Delaware, as did medical technology company Accelerate Diagnostics Inc. and California-based biotechnology company Synthego Corp. Here are the week's new bankruptcy cases.
Rite Aid Back In Ch. 11, Tupperware Gets OK To Liquidate
Drugstore chain Rite Aid reentered bankruptcy less than a year after its earlier reorganization plan was approved, and received a bankruptcy court's permission to conduct asset sales. Food storage container maker Tupperware Brands Corp. received court approval for its Chapter 11 liquidation plan. And a Washington University law professor was named the consumer privacy ombudsman in 23andMe's Chapter 11 case.
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