Rite Aid closer to exiting bankruptcy in major deal with creditors to avoid liquidation after closing dozens of stores ...Middle East

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Rite Aid closer to exiting bankruptcy in major deal with creditors to avoid liquidation after closing dozens of stores
DRUGSTORE chain Rite Aid has reached a settlement that will bring the retailer closer to exiting bankruptcy. Rite Aid appears ready to leave bankruptcy following a settlement with its lenders, its drug supplier, and the Department of Justice, the company announced Tuesday. GETTYRite Aid closed many stores since fall 2023, when the company declared bankruptcy[/caption] At a hearing in Trenton, New Jersey, the company’s attorney said Rite Aid had “reached an agreement on all key points” with stakeholders. Some junior bondholders questioned the deal during the hearing, but the company said it would work to resolve any remaining concerns. They did not provide details of the settle

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