Rite Aid
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Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.
NEW YORK (Reuters) - Rite Aid, one of the largest U.S. pharmacy chains, received permission from a U.S. judge on Thursday to begin voting on a bankruptcy restructuring plan that would turn over...
Acquisition by Rite Aid. On October 7, 2020, the company announced that it would be sold to Pennsylvania-based Rite Aid for $95 million. At the time of the sale, Bartell Drugs had 69 locations in King, Pierce and Snohomish Counties. The acquisition was completed on December 18. By 2023, five locations in Seattle had been closed by Rite Aid ...
As NBC News reported, the chain operated 2,253 stores as of Sept. 3. The states most affected by the closures are Pennsylvania (39 stores), California (31 stores) and New York (20 stores). While ...
October 19, 2023 at 8:50 AM. Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.
During her time at Rite Aid, Donigan closed more than 150 unprofitable stores. Donigan was credited with avoiding the bankruptcy for Rite Aid by pushing debt payments due in 2022 to 2025; however, Deutsche Bank warned the company was in danger of a "dramatic negative inflection point" in April 2022.
After filing for Chapter 11 bankruptcy protection, Rite Aid said it will receive $3.45 billion in new financing to help the company keep remaining stores open and employees paid while it undergoes ...
By the middle of the 1990s, Grass had grown Rite Aid drugstores into an important regional chain. Grass retired as the company's chairman and chief executive in March 1995. [2] [4] That year, Rite Aid had the most stores of any drugstore in the country and was the nation's number two drugstore in terms of revenue .
Rite Aid says it will close at least 154 stores as it goes through bankruptcy. The chain had 2,253 stores as of September 3, and the U.S. Bankruptcy Court in New Jersey also approved additional ...
In 2023, Rite Aid filed for Chapter 11 bankruptcy. Despite Thrift Drug shutting down 26 years prior to Rite Aid's bankruptcy filing, Thrift Drug was still listed in the filing. [6]
