RAD - Drug Retailer Rite Aid Grappling With Lawsuits Files For Bankruptcy | Benzinga
Rite Aid Corporation (NYSE: RAD) filed for Chapter 11 bankruptcy protection in New Jersey and said it would begin restructuring to reduce its debt. Elixir Insurance is not included in the Chapter 11 process.
Rite Aid is evaluating its store portfolio, and in connection with the court-supervised process, the company will close additional underperforming stores.
Rite Aid also said lenders agreed to provide $3.45 billion in new funding to "provide sufficient ...