Reported 9 months ago
Rite Aid (RADCQ) is requesting approval from a US bankruptcy court for its restructuring plan to cut $2 billion in debt and transfer control to its lenders. The pharmacy chain aims to settle with creditors, including those involved in opioid lawsuits, close stores, and emerge from Chapter 11 ownership by investment funds like Brigade Capital and HG Vora. Rite Aid's bankruptcy proposal faces objections from insurers, Maryland, and certain opioid claimants, centering on its handling of opioid lawsuits, which will be considered by Judge Michael Kaplan.
Source: YAHOO