💨 Abstract

Rite Aid has filed for Chapter 11 bankruptcy again, aiming to sell its assets. The drugstore chain, which filed once before in 2023, ran over 2,300 stores in 17 states. The bankruptcy proceedings will allow Rite Aid to reduce debt and resolve litigation. The company emerged from the previous bankruptcy as a private entity, stating it came out stronger with a more efficient operating model and reduced debt.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖