US Trustee Objects To Rite Aid Disclosure Statement

By Jeff Montgomery · February 23, 2024, 6:38 PM EST

The U.S. Trustee's Office has flagged what it called "objectionable" proposals from Rite Aid to hold post-confirmation votes on some Chapter 11 plan releases, as well as shortening senior secured voting...

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Bankruptcy Scorecard


Bankrupt drugstore chain Rite Aid filed for Chapter 11 Oct. 15 with plans to close more retail locations, sell its pharmacy benefits manager business and shed some of its $4 billion of total funded debt. A New Jersey bankruptcy judge in June agreed to approve its Chapter 11 plan to pay $2.6 billion in term and asset-based loans in cash, exchange $1.2 billion in senior notes for equity and set up a recovery fund for some 1,600 opioid claims that includes $43 million in cash and 10% equity in the reorganized company.

Case Number



Michael B. Kaplan


U.S. Bankruptcy Court for the District of New Jersey

Capital Structure

Total Liabilities:

$4 billion

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Case Information

Case Title

Rite Aid Corporation

Case Number



New Jersey

Nature of Suit

Date Filed

October 15, 2023