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 Professional Autos.

More Information

26 ℃

Mostly Cloudy in Seletar

Business

Section

U.S. stocks start week in divided territory, dollar jumps

NEW YORK, New York - U.S. stocks closed mixed on Monday following on from last week's volatility."Digestion is the word ...

Microsoft president denies super-intelligent AI possible in 12 months

REDMOND, Washington: Microsoft President Brad Smith said there is no chance of super-intelligent artificial intelligence (AI) being developed within the ...

EVs not as reliable as conventional cars, trucks: Consumer Reports

NEW YORK: A survey by Consumer Reports found that electric vehicles (EV) from 2021 through 2023 model years encountered nearly ...

Singapore, Zurich, Geneva are among world's costliest cities

LONDON, UK: In a report released this week, the Economist Intelligence Unit (EIU) said that Singapore and Zurich tied for ...

FAA's new aircraft certification policy changes key flight controls

WASHINGTON D.C.: This week, the U.S. Federal Aviation Administration (FAA) said it implemented a new aircraft certification policy, which requires ...