Rite Aid has successfully navigated a significant legal and financial restructuring. A U.S. bankruptcy judge approved the pharmacy chain's plan to cut $2 billion in debt on Friday, enabling the company to avoid liquidation and transfer control to a group of its lenders. This approval follows Rite Aid's earlier announcement to close 200 stores and its legal victory over MedImpact Healthcare Systems regarding a $200 million dispute tied to the sale of its pharmacy benefit unit, Elixir. The judge ruled that MedImpact assumed Elixir's debts when it acquired the unit. The restructuring plan allows Rite Aid to keep 1,300 of its 2,000 stores.
🚨 RITE AID $2-BILLION BANKRUPTCY PLAN APPROVED A U.S. bankruptcy judge has approved Rite Aid's restructuring plan, reducing its debt by $2 billion. The plan saves the company from liquidation and allows it to keep 1,300 of its 2,000 stores. Rite Aid will also sell its… https://t.co/o0ofLjpCG4
RITE AID AVERTS TOTAL CLOSURE, WINS RESTRUCTURING PLAN APPROVAL Rite Aid has been cleared to exit bankruptcy after winning court approval on a restructuring plan that’s poised to save the ailing pharmacy chain from liquidation by handing control of the business to key creditors…
Rite Aid bankruptcy plan approved, cutting $2 bln in debt https://t.co/K3qd94Dlv0 https://t.co/e6uk1vOPr7
A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut $2 billion in debt and turn over control of the company to a group of its lenders. https://t.co/jQ2TthvJ6k https://t.co/jQ2TthvJ6k
Rite Aid has been cleared to exit bankruptcy after winning court approval on a restructuring plan that’s poised to save the ailing pharmacy chain from liquidation by handing control of the business to key creditors. https://t.co/DaE1XublkA
A US bankruptcy judge approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut $2 billion in debt and turn over control of the company to a group of its lenders https://t.co/BUDo1C79C9 https://t.co/HjRiBYA0Q3
🔵 RITE AID BANKRUPTCY PLAN APPROVED, CUTTING $2 BILLION IN DEBT A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut $2 billion in debt and turn over control of the company to a group of its lenders. Full Story via… https://t.co/B0SrDZhar7
Rite Aid will ask a U.S. bankruptcy court to approve its restructuring plan Thursday, seeking to cut $2 billion in debt and turn over control of the company to a group of its lenders. https://t.co/g8JPLMaAGt
Rite Aid is seeking bankruptcy court approval to cut $2 billion in debt. The pharmacy chain said in court filings that restructuring is the best way to pay its creditors and emerge from bankruptcy https://t.co/giaNj0tb5n https://t.co/OR5Zf4F66S
"Rite Aid will ask a U.S. bankruptcy court to approve its restructuring plan on Thursday." https://t.co/3ZKAIHzZlD
Rite Aid seeks bankruptcy court approval to cut $2 billion debt https://t.co/duJ6DQDemr https://t.co/oJzEW6pR4b
Rite Aid will ask a U.S. bankruptcy court to approve its restructuring plan on Thursday, seeking to cut $2 billion in debt and turn over control of the company to a group of its lenders. https://t.co/4Xfx8AkPC7 https://t.co/4Xfx8AkPC7
Rite Aid will ask a US bankruptcy court to approve its restructuring plan, seeking to cut $2 billion in debt and turn over control of the company to a group of its lenders https://t.co/giaNj0tIUV @DietrichKnauth https://t.co/oERRQ4b5IM
🔵 RITE AID SEEKS BANKRUPTCY COURT APPROVAL TO CUT $2 BILLION DEBT Rite Aid will ask a U.S. bankruptcy court to approve its restructuring plan on Thursday, seeking to cut $2 billion in debt and turn over control of the company to a group of its lenders. Full Story via Reuters… https://t.co/bsjd5VZpqd
Rite Aid defeats MedImpact in $200 million Elixir sale dispute | Reuters $RADCQ https://t.co/tYsN83wtAi
MedImpact's attempt to recoup about $200 million related to its purchase of Rite Aid's pharmacy benefit unit failed after a judge ruled on Monday that it took on Elixir's debts when it bought the company. https://t.co/22fUnL8Mdb https://t.co/22fUnL8Mdb
Rite Aid defeats MedImpact in $200 million Elixir sale dispute https://t.co/ey9a9NKysg https://t.co/7cbuqVBZoa
MedImpact's attempt to recoup about $200 million related to its purchase of Rite Aid's pharmacy benefit unit failed after a judge ruled that it took on Elixir's debts when it bought the company https://t.co/jWA65Tyqa7 https://t.co/xqtytF9vxo
🔵 RITE AID DEFEATS MEDIMPACT IN $200 MILLION ELIXIR SALE DISPUTE MedImpact's attempt to recoup about $200 million related to its purchase of Rite Aid's pharmacy benefit unit failed after a judge ruled on Monday that it took on Elixir's debts when it bought the company. Full… https://t.co/JfTdC6lWP3
Rite Aid isn’t responsible for more than $200 million in extra costs tied to the recent acquisition of its pharmacy benefit manager Elixir by MedImpact Healthcare Systems, a judge ruled Monday https://t.co/703B8cmKwU
The stores are among 200 of the 2,000 stores that Rite Aid said it would close when it filed for bankruptcy protection last October. They include pharmacies in 15 Ohio towns & 12 in Michigan towns. For some patients in small towns, the local pharmacy is the only point of contact… https://t.co/MnW5Lxipq2