Rite Aid Can Sell Analytics Arm Health Dialog For $2.75M

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.

3:23-bk-18993

Michael B. Kaplan

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