Rite Aid Corporation

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Case overview

Case Number:

3:23-bk-18993

Court:

New Jersey

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. October 19, 2023

    Bankrupt Rite Aid's New Directors To Earn $50K Per Month

    Rite Aid Corp. will pay two new directors $50,000 per month to sit on the board of the bankrupt drugstore chain after awarding them $200,000 each for roughly three months of consulting work, the company said in a regulatory filing Thursday.

  2. October 19, 2023

    Rite Aid Cites 'Substantial Doubt' It Can Stay In Business

    Pharmacy chain Rite Aid Corp. says its Chapter 11 bankruptcy filing Sunday has put at risk its ability to continue operating its business — citing in a quarterly report "substantial doubt" about whether it can "continue as a going concern."

  3. October 18, 2023

    Rite Aid Ch. 11 Shows NJ Is A Good Place To Go Bankrupt

    Until recently, it would have been surprising if Rite Aid Corp. chose to file its $7.65 billion bankruptcy in New Jersey over the two other prominent courts nearby that handle most megacases. But that's exactly what the drugstore chain did on Sunday, likely lured by New Jersey's roster of experienced judges, corporate-friendly rulings and convenient location, lawyers told Law360.

  4. October 17, 2023

    Rite Aid Inks Ch. 11 Deal With Key Medicine Supplier

    Rite Aid Corp. struck a tentative deal on Tuesday with its key supplier, McKesson Corp., paving the way for the bankrupt drugstore chain to continue getting $9 billion of medicines annually and clearing an important early hurdle in its Chapter 11 case in New Jersey.

  5. October 16, 2023

    Rite Aid Taps Into DIP Loans, Sets Fast Ch. 11 Sale Schedule

    Bankrupt drugstore chain Rite Aid won initial approval from a New Jersey judge on Monday to tap into some of its $3.45 billion financing package while it seeks buyers for its retail and pharmacy management businesses on a quick timeline to try to avoid more layoffs.