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Rite Aid Averts Total Closure, Wins Restructuring Plan Approval

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Rite Aid Corp. has been cleared to exit bankruptcy after winning court approval on a restructuring plan that’s poised to save the ailing pharmacy chain from liquidation by handing control of the business to key creditors.

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Rite Aid seeks bankruptcy court approval to cut $2 billion debtRite Aid will ask a U.S. bankruptcy court to approve its restructuring plan on Thursday, seeking to cut $2 billion in debt and turn over control of the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »