{"id":17005,"date":"2023-10-16T14:42:35","date_gmt":"2023-10-16T18:42:35","guid":{"rendered":"https:\/\/chainstoreguide.com\/offthechain\/?p=17005"},"modified":"2023-10-16T14:42:35","modified_gmt":"2023-10-16T18:42:35","slug":"breaking-news-rite-aid-files-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2023\/10\/breaking-news-rite-aid-files-bankruptcy\/","title":{"rendered":"Breaking News: Rite Aid Files for Bankruptcy"},"content":{"rendered":"<p><strong>Rite Aid<\/strong> has filed for chapter 11 bankruptcy protection. As of June 3<sup>rd<\/sup> this year, the company had $8.60 billion in debt and total assets of $7.65 billion. They have already secured $3.45 billion from lenders in order to aid in business restructuring. The company also hired Jeffrey S. Stein as CEO, Chief Restructuring Officer, and is now \u00a0a member of the Board of Directors.<\/p>\n<p>Rite-Aid will continue to close underperforming stores and transfer employees when possible and move customer prescriptions when necessary. The company closed approximately 150 underperforming stores last year and has closed over 250 this year. There is no word on which or how many stores the company plans to close as part of the bankruptcy filings.<br \/>\n<center><\/p>\n<div id=\"viz1697547943132\" class=\"tableauPlaceholder\" style=\"position: relative; text-align: center;\"><noscript><a href='#'><img alt='Breaking News 10-2023 Stats ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;20&#47;20231016-RiteAid&#47;BreakingNews10-2023Stats&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"20231016-RiteAid\/BreakingNews10-2023Stats\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/20\/20231016-RiteAid\/BreakingNews10-2023Stats\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><\/object><\/div>\n<p style=\"text-align: center;\"><script type='text\/javascript'>                    var divElement = document.getElementById('viz1697547943132');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='700px';vizElement.style.height='627px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='700px';vizElement.style.height='627px';} else { vizElement.style.width='100%';vizElement.style.height='727px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<div id=\"viz1697548038240\" class=\"tableauPlaceholder\" style=\"position: relative; text-align: center;\"><noscript><a href='#'><img alt='Breaking News 10-23 Stores ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;20&#47;20231016-RiteAidStores&#47;BreakingNews10-23Stores&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"20231016-RiteAidStores\/BreakingNews10-23Stores\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/20\/20231016-RiteAidStores\/BreakingNews10-23Stores\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1697548038240');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='700px';vizElement.style.height='527px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='700px';vizElement.style.height='527px';} else { vizElement.style.width='100%';vizElement.style.height='727px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/center><\/p>\n<p>Rite Aid has faced significant financial losses from lawsuits alleging that their pharmacies contributed to the opioid crisis in America. They have been accused of knowingly filling unlawful prescriptions for controlled substances. The company is planning to use this restructuring period to settle lawsuits and move forward with their business. It is unclear how these filings will affect the pharmacy market, which already saw a major shift this year when rivals <strong>Walgreens <\/strong>and <strong>CVS<\/strong> purchased <strong>Winn<\/strong> <strong>Dixie<\/strong>\u2019s pharmacy business.<\/p>\n<p>CSG will continue to monitor this developing story. CSG\u2019s <a href=\"https:\/\/www.chainstoreguide.com\/offthechain\/..\/c-82-drug-store-and-hbc-chain-leads.aspx\" target=\"_blank\" rel=\"noopener\">Drug Stores &amp; HBC Chains database<\/a> as\u00a0 well as our Custom division has the current locations and personnel for Rite Aid.<\/p>\n<p style=\"text-align: center;\"><strong>Power your strategy with CSG&#8217;s Data &amp; Marketing Programs<\/strong><\/p>\n<div align=\"center\">\n<table class=\"center\"  width=\"645\" align=\"center\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><a href=\"https:\/\/www.chainstoreguide.com\/c-69-store-locations.aspx?\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-17014\" src=\"https:\/\/www.chainstoreguide.com\/offthechainwp-content\/uploads\/2023\/10\/locations-300x214.png\" alt=\"\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/locations-300x214.png 300w, https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/locations.png 700w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/www.chainstoreguide.com\/t-CSG_Forecasting.aspx\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-17015\" src=\"https:\/\/www.chainstoreguide.com\/offthechainwp-content\/uploads\/2023\/10\/forecasting-300x214.png\" alt=\"\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/forecasting-300x214.png 300w, https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/forecasting.png 700w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<td style=\"text-align: center;\"><a href=\"https:\/\/www.chainstoreguide.com\/c-84-drug-market-share.aspx\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-17016 alignleft\" src=\"https:\/\/www.chainstoreguide.com\/offthechainwp-content\/uploads\/2023\/10\/marketshare-300x214.png\" alt=\"\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/marketshare-300x214.png 300w, https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/marketshare.png 700w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/www.chainstoreguide.com\/t-custom-proximity-analysis.aspx\" target=\"_blank\" rel=\"noopener\"> <img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-17017 alignleft\" src=\"https:\/\/www.chainstoreguide.com\/offthechainwp-content\/uploads\/2023\/10\/proximity-300x214.png\" alt=\"\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/proximity-300x214.png 300w, https:\/\/www.chainstoreguide.com\/offthechain\/wp-content\/uploads\/2023\/10\/proximity.png 700w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rite Aid has filed for chapter 11 bankruptcy protection. As of June 3rd this year, the company had $8.60 billion in debt and total assets of $7.65 billion. They have already secured $3.45 billion from lenders in order to aid in business restructuring. The company also hired Jeffrey S. Stein as CEO, Chief Restructuring Officer,&hellip; <a class=\"more-link\" href=\"https:\/\/www.chainstoreguide.com\/offthechain\/2023\/10\/breaking-news-rite-aid-files-bankruptcy\/\">Continue reading <span class=\"screen-reader-text\">Breaking News: Rite Aid Files for Bankruptcy<\/span><\/a><\/p>\n","protected":false},"author":15,"featured_media":17007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[33,17],"class_list":["post-17005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-b2-trends","tag-breaking-news","tag-csg-exclusive","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/17005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=17005"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/17005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media\/17007"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=17005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=17005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=17005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}