Rite Aid heading for bankruptcy again, plans to – Business News
Pharmacy chain Rite Aid intends to file for bankruptcy safety for the second time in two years, in accordance to a courtroom submitting.
The company has estimated belongings and liabilities within the vary of $1 billion to $10 billion, the doc confirmed.
The company was unable to secure further capital from lenders that was needed to proceed working the business, Bloomberg News reported earlier within the day, citing a letter from CEO Matthew Schroeder.
Rite Aid was unable to secure further capital from lenders that was needed to proceed working the business. Getty Images
The letter states that the drug store chain intends to scale back its workforce at its company places of work in Pennsylvania.
