Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing.
FILE - This photo shows a sign of Rite Aid on its store in Pittsburgh on Jan. 23, 2023. Rite Aid, a major U.S. pharmacy chain, said Sunday, Oct. 15, that it has filed for bankruptcy as part of its effort to restructure its finances. Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
In March, the Justice Department filed a complaint against Rite Aid, alleging it knowingly filled hundreds of thousands of unlawful prescriptions for controlled substances from May 2014-June 2019. It also accused pharmacists and the company of ignoring "red flags" indicating the prescriptions were illegal.
Jeffrey Stein, who heads a financial advisory firm, was appointed Rite Aid's CEO as of Sunday, replacing Elizabeth Burr, who was interim CEO and remains on Rite Aid's board. The bankruptcy filing in New Jersey and noncompliance with listing standards would not affect the company's business operations or its U.S. Securities and Exchange Commission reporting requirements, it said.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits
Read more »
Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. Rite Aid said it would also close “underperforming” stores.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
Read more »
Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
Read more »
Rite Aid, a major U.S. pharmacy chain, files for bankruptcyMajor U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
Read more »