institutional access

You are connecting from
Lake Geneva Public Library,
please login or register to take advantage of your institution's Ground News Plan.

Published loading...Updated

Rite Aid files for second bankruptcy in two years

  • Rite Aid announced plans to file for Chapter 11 bankruptcy again in 2025, aiming to sell most of its assets while keeping its stores operational.
  • The decision follows its initial bankruptcy in October 2023, after which Rite Aid restructured but still struggled with debt, inflation, and weaker demand.
  • After closing around 850 stores and cutting debt by $2 billion, Rite Aid emerged as a private company with reduced scale but ongoing financial strain.
  • Chief Executive Matthew Schroeder stated the company faces lenders unwilling to fund payroll fully and cited supplier payment restrictions, while Rite Aid secured $1.94 billion financing to support the sale.
  • This second bankruptcy signals Rite Aid's continued financial challenges amid a tough retail drugstore environment and plans for a sale and customer prescription transfers.
Insights by Ground AI
Does this summary seem wrong?

281 Articles

All
Left
40
Center
139
Right
26
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 68% of the sources are Center
68% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

The spokesman-Review broke the news in Spokane, United States on Monday, May 5, 2025.
Sources are mostly out of (0)