Rite Aid is in talks with creditors over the terms of a bankruptcy plan that would include liquidating a significant portion of its over 2,100 locations, the Wall Street Journal’s Alexander Gladstone and Andrew Scurria report, citing people familiar with the talks. The company has proposed to shutter about 400-500 drugstores in bankruptcy, and either sell are allow creditors to take over its remaining operations, the authors note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RAD:
- RAD Upcoming Earnings Report: What to Expect?
- Rite Aid announces availability of Narcan Nasal Spray at all locations
- Largest borrow rate increases among liquid names
- Rite Aid (NYSE:RAD) Prepares for Bankruptcy, Closes Stores
- Rite Aid planning to file chapter 11 bankruptcy ‘within weeks,’ WSJ reports
