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The company's market cap as of Friday stood at $41 million, Yahoo Finance data showed. In a statement to Yahoo Finance, Rite Aid said: "We have closed 239 stores since 2021.
A Wall Street Journal report that Rite Aid would close 400 to 500 stores sent the stock stumbling at the end of September. Rite Aid, which once had a market cap of nearly $13 billion in 1998 ...
October 19, 2023 at 11:50 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. The ...
NEW YORK (Reuters) -A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [ 10] 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.
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 most of the company's ...
The stock crashed 24% to $6.45 on the session.Shares are now down 50% over the past two years, badly lagging pharmacy rivals CVS Health (+70%) and Walgreens (+1%) — both of which have put up ...
October 15, 2023 at 8:15 PM. Rite Aid files for bankruptcy amid slowing sales, opioid litigation. Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would ...