Rite Aid has continued to announce the closure of additional stores.
On Monday, the business reported the closure of 11 more bankruptcy cases. Ten of the eleven locations are in Ohio and Michigan. One site in California will close.
Since June 1, Rite Aid has announced the closure of 287 stores. All but four of the shops were located in Ohio or Michigan.
Founded in East Pennsboro Township near Camp Hill for decades, Rite Aid, now headquartered in Philadelphia, filed for Chapter 11 bankruptcy in October to start restructuring and significantly reduce its debt.
Since October, the firm has declared via bankruptcy proceedings that 780 outlets will close.
According to CNBC, US Bankruptcy Judge Michael Kaplan accepted Rite Aid’s bankruptcy plan at a court hearing in Trenton, New Jersey, in June, allowing the pharmacy chain to slash $2 billion in debt and hand over management of the firm to a group of its lenders.
Rite Aid intends to emerge from bankruptcy soon, with lenders providing $2.55 billion in finance, according to Reuters.
Rite Aid had over 2,100 locations when it filed for bankruptcy in October.
Michigan is a state known for its diverse landscapes, vibrant cities, and rich cultural heritage.
-
- 2255 S. Jackson Road, Jackson
- 22521 Michigan Ave., Dearborn
- 2857 S. County Road 489, Lewiston
- 800 W. Ann Arbor Road, Plymouth
- 100 E. Vienna Road, Clio
- 309 N. Main St., Frankenmuth
Ohio is a state in the United States.
-
- 651 Lincoln St., Cadiz
- 304 Harding Way West, Galion
- 1921 S. Defiance Road, Archbold
- 8619 Waynesburg Drive, SE, Waynesburg
California is a state located on the west coast of the United States.
-
- 3550 S. La Brea Ave., Los Angeles
