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Posts tagged as “Heyward Donigan”

Rite Aid Files for Bankruptcy, Announces Restructuring Plan to Strengthen Financial Position and Ensure Long-term Success

Rite Aid, a major U.S. pharmacy chain, has filed for bankruptcy and obtained $3.45 billion in fresh financing as part of a restructuring plan to reduce debt and position the company for future growth. The plan includes closing 200 stores, reducing the workforce by 10%, and exploring the sale of its pharmacy benefit management business. The company is confident that the restructuring plan will help it “emerge as a stronger, more competitive organization.”