US pharmacy giant announces new bankruptcy plan to save $2bn – but store closures and up to 28,000 job losses feared ...Middle East

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A MAJOR pharmacy chain has announced its new plan to take itself out of bankruptcy and save thousands of jobs. Rite Aid’s restructuring plans have been approved by a U.S. judge this week. GettyRite Aid’s restructuring plans have been approved by a judge (stock image)[/caption] GettyThe pharmacy chain has hoped to take itself out of bankruptcy (stock image)[/caption] The Pennsylvania-based pharmacy chain filed for Chapter 11 bankruptcy in October 2023. U.S. Bankruptcy Judge Michael Kaplan approved Rite Aid’s bankruptcy restructuring plans on June 28, according to Reuters. The hearing took place in a courthouse in Trenton, New Jersey. This plan would cut the pharmacy chain

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