11 More Rite Aid Locations Up For Sale In Ch. 11

By Rick Archer · January 16, 2024, 2:07 PM EST

The real estate adviser for bankrupt pharmacy chain Rite Aid Corp. announced Tuesday it was putting eight more leases and three more company-owned stores up for private sales....

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Bankruptcy Scorecard

Summary

Bankrupt drugstore chain Rite Aid filed for Chapter 11 Oct. 15 with plans to close more retail locations, sell its pharmacy benefits manager business and shed some of its $4 billion of total funded debt. A New Jersey bankruptcy judge in June agreed to approve its Chapter 11 plan to pay $2.6 billion in term and asset-based loans in cash, exchange $1.2 billion in senior notes for equity and set up a recovery fund for some 1,600 opioid claims that includes $43 million in cash and 10% equity in the reorganized company.

Case Number

3:23-bk-18993

Judge

Michael B. Kaplan

Venue

U.S. Bankruptcy Court for the District of New Jersey

Capital Structure

Total Liabilities:

$4 billion

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Related Sections

Case Information

Case Title

Rite Aid Corporation

Case Number

3:23-bk-18993

Court

New Jersey

Nature of Suit

Date Filed

October 15, 2023

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