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Thursday, May 22
Tech

Rite Aid braces for second bankruptcy filing less than a year after 800 closures

nytimespostBy No Comments


RITE Aid is preparing for a second bankruptcy filing amid continued financial woes.

The drugstore chain filed for the first time nearly a year ago and has closed around 800 stores since.

Rite Aid store closing sale.

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Rite Aid is reportedly preparing for a second bankruptcy filing (stock image)Credit: GETTY

At the time, it had nearly $8.6 billion in total debt, and it’s again having cash struggles, seeking a loan for debtor-in-possession financing in April, sources told Bloomberg on Tuesday.

With the expected second bankruptcy filing, Rite Aid would also sell off more locations, with remaining stores closed for good.

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