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:

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.
March 26, 2024
Rite Aid Says It Needs 2 Days To Wrap Up Ch. 11 Plan Talks

A New Jersey bankruptcy judge on Tuesday granted Rite Aid a two-day postponement of a hearing on its Chapter 11 plan disclosure statement after the drugstore chain said it has one last sticking point to resolve with lenders on the terms of the plan.
March 06, 2024
Rite Aid Aims To Divest Most Of Its Health Dialog Business

Bankrupt drugstore chain Rite Aid Corp. said Wednesday that it will sell most of its Health Dialog business, which provides personalized health services, to Carenet Health for an undisclosed amount.
March 05, 2024
Rite Aid Process To Break Leases, Close Stores In Ch. 11 OK'd

A New Jersey bankruptcy judge on Tuesday signed off on procedures for bankrupt retail pharmacy chain Rite Aid Corp. to potentially shutter 210 rented stores with fast-approaching lease rejection deadlines, overruling objections from two landlords.
February 23, 2024
US Trustee Objects To Rite Aid Disclosure Statement

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 and preemptively deeming unsecured creditors as detractors.