Reported 6 months ago
Rite Aid Corp.'s main lenders are pushing back against a proposed $20 million payout to CEO Jeffrey Stein as a condition for funding the company's exit from bankruptcy. The lenders are demanding a reduction in Stein's pay, highlighting concerns over the company's liquidity and accumulating expenses. The negotiation over Stein's compensation is ongoing, while Rite Aid's restructuring plan involves creditors taking over the chain to support its emergence from Chapter 11.
Source: YAHOO