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.

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