Rite Aid Corporation announced it is pursuing a strategic sale of nearly all its assets under Chapter 11 bankruptcy protection, filed in the U.S. Bankruptcy Court for the District of New Jersey. The move is part of the company’s effort to manage mounting financial challenges and reshape its future.
Despite the filing, Rite Aid will continue operating its stores and providing pharmacy services, including prescription fulfillment and immunizations. Customers should see no disruption in service, and employees will continue to receive wages and benefits during the process.
CEO Matt Schroeder said Rite Aid has received “meaningful interest” from several potential national and regional buyers. “Our top priorities are ensuring uninterrupted pharmacy services and preserving as many jobs as possible,” Schroeder said, praising employees for their dedication to the company’s 60-year healthcare mission.
Rite Aid has secured $1.94 billion in new financing from existing lenders to fund operations through the sale and restructuring process. The company will also explore selling or monetizing assets not included in the broader sale.
For more information on the court-supervised process, visit https://restructuring.ra.kroll.com/RiteAid2025.
Source: news.riteaid.com