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NEW YORK (Reuters) -A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.
Rite Aid competitors Walgreens, Walmart and CVS have agreed to pay $13.8 billion to settle a wave of similar opioid lawsuits outside of bankruptcy. Preiss said Rite Aid's opioid creditors could ...
Rite Aid's bankruptcy plan, revised on Thursday, would cut $2 billion in debt and provide $47.5 million to junior creditors, including individuals and local governments who have sued the company ...
On November 16, Rite Aid sued the United States Department of Justice in an effort to block an opioid lawsuit that accused the company of ignoring warnings and falsely filed thousands of prescriptions for addictive opioid medications. [73] On November 21, a bankruptcy judge ordered Rite Aid to fully reorganize its operations by March 1, 2024.
(Reuters) -Rite 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.
Rite Aid has $4 billion in debt, $8.6 billion in total liabilities and $7.65 billion in assets, according to court filings in the U.S. Bankruptcy Court for the District of New Jersey.
Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits. The company said Rite Aid ...
Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts. Rite Aid, which had filed for Chapter ...