Rite Aid may close over 400 stores, allow creditors to run operations

Robert Besser
25 Sep 2023, 19:56 GMT+10

This week, the Wall Street Journal reported that Rite Aid could shut down some 400 to 500 stores under the terms of a bankruptcy plan it is negotiating with creditors
The company also said it could either sell or let creditors take over its remaining operations
Given the ongoing negotiations, Rite Aid said that no decisions have been made at this time

CAMP HILL, Pennsylvania: This week, the Wall Street Journal (WSJ) reported that Rite Aid could shut down some 400 to 500 stores under the terms of a bankruptcy plan it is negotiating with creditors.

The company also said it could either sell or let creditors take over its remaining operations, the report added.

Given the ongoing negotiations, Rite Aid said that no decisions have been made at this time.

While being much smaller than its rivals, such as Walgreens Boots Alliance and CVS Health, the company operates more than 2,330 stores in 17 U.S. states.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Australian Herald.

More Information

25 ℃

Partly Cloudy in Sydney

International

Section

China's President Xi to visit Vietnam from December 12

BEIJING, China: President Xi Jinping is set to visit Vietnam on December 12 and 13, where he will engage with ...

U.S. steps up delivery of bombs to Israel after defeating UN resolution

WASHINGTON, DC - Within hours of blocking a UN Security Council resolution from demanding a ceasefire in the current Mideast ...

Biden popularity near lowest level of presidency: Reuters/Ipsos poll

WASHINGTON D.C.: In a sign of the challenges ahead for his 2024 re-election bid, a new Reuters/Ipsos poll showed that ...

Israeli ambassador extends thanks to U.S. president after UN vote

Israel has acknowledged and thanked the United States and President Joe Biden for standing firmly by Israel's side at the ...

E-bike's battery catches fire in New York, killing 1, injuring 6

NEW YORK: This week, New York City officials said that one person was killed and six others were injured when ...

United Kingdom passes on crucial vote to end war in Gaza

NEW YORK, New York - The United Kingdom refrained from supporting demands for a ceasefire in the two-months long Israel-Gaza ...

Sydney

Section

Movie Review

The Philadelphia Story

Philadelphia Story