• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Rite Aid files for second bankruptcy in two years

by May 6, 2025
written by May 6, 2025

U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing.

Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores.

Walgreens, facing significant losses, recently agreed to a $10 billion buyout by private equity firm Sycamore Partners — a dramatic decline from its $100 billion valuation a decade ago, underscoring the severe challenges facing traditional pharmacy retailers.

Rite Aid used its previous bankruptcy in 2023 to cut $2 billion in debt, close hundreds of stores, sell its pharmacy benefit company, Elixir, and negotiate settlements with its lenders, drug distribution partner McKesson and other creditors.

The previous bankruptcy also resolved hundreds of lawsuits alleging that Rite Aid ignored red flags when filling suspicious prescriptions for addictive opioid pain drugs.

But despite those settlements, Rite Aid still had $2.5 billion in debt when it emerged from bankruptcy as a private company owned by its lenders in 2024.

According to Monday’s court filing, the company has estimated assets and liabilities in the range of $1 billion to $10 billion.

The company was unable to secure additional capital from lenders, which it needed to continue operating the business, Bloomberg News reported earlier in the day, citing an internal letter from CEO Matthew Schroeder to the company’s employees.

The letter also states that the drug store chain intends to reduce its workforce at its corporate offices in Pennsylvania.

Rite Aid operated about 2,000 pharmacies in 2023 but now has only 1,250 stores across the U.S., with recent closures significantly reducing its presence in markets such as Ohio and Michigan.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
NASA backs Trump budget blueprint with $6B cut to agency
next post
German conservative’s bid for chancellor falls short, a first in more than 75 years

related articles

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 17, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Democrats need new playbook to confront Trump, Kamala Harris pollster tells party

    December 14, 2024
  • Trump’s most vulnerable nominees RFK Jr, Tulsi Gabbard get back-to-back hearings

    January 27, 2025
  • Trump’s controversial plan to fire federal workers finds favor with Supreme Court

    July 16, 2025
  • Panama Canal CEO denies Trump claim that China in control, says end of Carter neutrality treaty means ‘chaos’

    January 9, 2025
  • Trump’s ‘Art of the Deal’ diplomacy just delivered a global win—without a shot fired

    May 11, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,509)
  • Investing (634)
  • Stock (941)

Latest Posts

  • ‘Instincts for restraint’: Senate divided over who gets to declare war

    June 19, 2025
  • Oil and Natural Gas: Oil remains under pressure below $70.00

    September 13, 2024
  • Trump’s pledge against ‘forever wars’ could be tested with Syria in hands of jihadist factions

    December 13, 2024

Recent Posts

  • CrowdStrike stock could drop to $275 amid valuation concerns, analyst warns

    July 18, 2024
  • King Charles sends personal message of congratulations to Trump on swearing-in

    January 21, 2025
  • RFK Jr. picks eight for vaccine panel after firing all 17 members

    June 12, 2025

Editor’s Pick

  • Top federal agency with history of wasteful spending could be next DOGE target

    February 8, 2025
  • Pentagon fires Greenland US base commander who ‘undermined’ JD Vance after Pituffik visit

    April 11, 2025
  • Fed holds interest rates but keeps door open to a cut in coming months

    August 1, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock