Rite Aid, which filed for bankruptcy protection twice in less than two years, is shuttering dozens of additional stores from its existing portfolio.
A bankruptcy court in New Jersey approved an order earlier this month allowing Rite Aid to move forward with plans to close 114 additional stores and sell its assets as part of its second bankruptcy proceedings.
The closures are taking place in Pennsylvania, California, New York, Washington, New Jersey, Maryland, Vermont, Connecticut, Delaware, New Hampshire, Idaho and Ohio, according to a filing with the United States Bankruptcy Court for the District of New Jersey. However, the majority of the closures are concentrated in Pennsylvania.
Rite Aid announced Chapter 11 proceedings in May, only eight months after exiting its first bankruptcy protection.
Click this link for the original source of this article.
Author: Marty Kaufmann
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
