Rite Aid Corporation

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Case Number:

3:23-bk-18993

Court:

New Jersey

Nature of Suit:

Firms

Companies

Government Agencies

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April 16, 2024
Cost Of Rite Aid Bankruptcy So Far: $144M And Counting

Rite Aid has been billed nearly $144 million for professional fees and expenses since going bankrupt, with turnaround experts Alvarez & Marsal seeking $66.4 million and debtors' counsel Kirkland & Ellis LLP asking for more than $29 million, according to a spate of interim fee applications filed in the case since Monday.
April 01, 2024
BlockFi-FTX Deal Gets OK, Chile Telecom Co. Hits Ch. 11

Cryptocurrency giants FTX and BlockFi have gotten approval from a court on a deal to end their disputes, Yellow Corp's fight with federal pension regulators will stay in bankruptcy court and Chile's largest phone and internet provider has hit Chapter 11. This is the week in bankruptcy.
March 28, 2024
Rite Aid Says It Has Creditor Deal, Gets OK For Plan Vote

A New Jersey bankruptcy judge Thursday gave Rite Aid the go-ahead to send its Chapter 11 plan out for a creditor vote after hearing it has reached a $47.5 million deal with unsecured creditors and is close to a settlement on state and federal claims over drug sales.
March 26, 2024
Rite Aid Says It Needs 2 Days To Wrap Up Ch. 11 Plan Talks

A New Jersey bankruptcy judge on Tuesday granted Rite Aid a two-day postponement of a hearing on its Chapter 11 plan disclosure statement after the drugstore chain said it has one last sticking point to resolve with lenders on the terms of the plan.
March 06, 2024
Rite Aid Aims To Divest Most Of Its Health Dialog Business

Bankrupt drugstore chain Rite Aid Corp. said Wednesday that it will sell most of its Health Dialog business, which provides personalized health services, to Carenet Health for an undisclosed amount.
March 05, 2024
Rite Aid Process To Break Leases, Close Stores In Ch. 11 OK'd

A New Jersey bankruptcy judge on Tuesday signed off on procedures for bankrupt retail pharmacy chain Rite Aid Corp. to potentially shutter 210 rented stores with fast-approaching lease rejection deadlines, overruling objections from two landlords.
February 23, 2024
US Trustee Objects To Rite Aid Disclosure Statement

The U.S. Trustee's Office has flagged what it called "objectionable" proposals from Rite Aid to hold post-confirmation votes on some Chapter 11 plan releases, as well as shortening senior secured voting and preemptively deeming unsecured creditors as detractors.
February 21, 2024
Rite Aid Gets OK To End Former Queens Store Lease

Rite Aid Corp. was given permission Wednesday to reject a lease and sublease for a former store in Queens, New York, after a New Jersey bankruptcy judge found that doing so would benefit the debtor's estate.
February 14, 2024
NY Objects To Rite Aid Bid To Close More Stores

The state of New York asked a New Jersey bankruptcy judge Wednesday to keep two Rite Aid stores in Buffalo and Poughkeepsie, New York, out of the list of stores slated for closure in the pharmacy chain's Chapter 11 case, saying the closures would reduce pharmacy access for people in those communities.
February 12, 2024
Rite Aid Seeks To Extend Ch. 11 Exclusivity To Late April

Drugstore chain Rite Aid has urged a New Jersey bankruptcy judge to extend its Chapter 11 exclusivity period "out of an abundance of caution," explaining that although the company already filed its plan and disclosure statement, an extension would allow constructive mediation between parties.