Rite Aid Corporation

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Case overview

Case Number:

3:23-bk-18993

Court:

New Jersey

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

June 18, 2024
Rite Aid, SVB Affiliates Among Top 2024 Ch. 11 Sales So Far

Branches of Rite Aid and Silicon Valley Bank, technology and biotech firms and a discount store chain were among the companies that attracted top dollar in the Chapter 11 auctions held during the first half of 2024.
June 07, 2024
Rite Aid Can Borrow Another $75M In Ch. 11 Plan Pursuit

Bankrupt retail drug-store chain Rite Aid Corp. received court approval on Friday in New Jersey for an amended debtor-in-possession financing package that provides $75 million in new-money financing as it moves toward confirmation of a Chapter 11 plan.
June 03, 2024
Rite Aid Says Elixir Buyer On Hook For $225M In Liabilities

Rite Aid alleged the buyer of its prescription benefits subsidiary is trying to dodge $225 million of liabilities that were part of the sale closed in February, and asked a New Jersey bankruptcy judge to find that the stalking-horse bidder agreed to take on the disputed debt as part of their $577 million deal.
May 30, 2024
Rite Aid Ch. 11 Timeline Extended To Allow More Plan Review

A New Jersey judge on Thursday lengthened the timeline for Rite Aid to seek an exit from its Chapter 11 bankruptcy, pushing the confirmation hearing date out by seven days after insurers and others said the company's schedule would not provide enough time to review its restructuring plan.
May 24, 2024
Rite Aid Given Until Tuesday To File Ch. 11 Schedule

A New Jersey bankruptcy judge on Friday instructed Rite Aid to file a proposed schedule for its Chapter 11 plan confirmation process by Tuesday, after Johnson & Johnson accused the pharmacy business of dragging its feet in responding to an objection to its reorganization plan.
May 08, 2024
Rite Aid Can Sell Analytics Arm Health Dialog For $2.75M

Pharmacy retail chain Rite Aid got the green light Wednesday from a New Jersey bankruptcy judge to sell most of its coaching and analytics division, Health Dialog, to healthcare technology firm Carenet Health for $2.75 million as it works towards confirming a Chapter 11 plan.
April 17, 2024
Rite Aid's Ch. 11 Plan Called An 'Unmitigated Disaster'

An array of Rite Aid creditors, including a whistleblower, a former employee, and rivals Walmart, Walgreens and CVS, are fighting the insolvent drugstore chain's second amended Chapter 11 plan in New Jersey bankruptcy court, with a subtenant alleging the proposal is an "unmitigated disaster" for major stakeholders.
April 16, 2024
Cost Of Rite Aid Bankruptcy So Far: $144M And Counting

Rite Aid has been billed nearly $144 million for professional fees and expenses since going bankrupt, with turnaround experts Alvarez & Marsal seeking $66.4 million and debtors' counsel Kirkland & Ellis LLP asking for more than $29 million, according to a spate of interim fee applications filed in the case since Monday.
April 01, 2024
BlockFi-FTX Deal Gets OK, Chile Telecom Co. Hits Ch. 11

Cryptocurrency giants FTX and BlockFi have gotten approval from a court on a deal to end their disputes, Yellow Corp's fight with federal pension regulators will stay in bankruptcy court and Chile's largest phone and internet provider has hit Chapter 11. This is the week in bankruptcy.
March 28, 2024
Rite Aid Says It Has Creditor Deal, Gets OK For Plan Vote

A New Jersey bankruptcy judge Thursday gave Rite Aid the go-ahead to send its Chapter 11 plan out for a creditor vote after hearing it has reached a $47.5 million deal with unsecured creditors and is close to a settlement on state and federal claims over drug sales.