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Rite AidReuters
•78% Informative
Rite Aid will operate as a private company after it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy.
The pharmacy has used its bankruptcy to close hundreds of stores, sell its pharmacy benefit company Elixir and negotiate settlements with its lenders, drug distribution partner McKesson and other creditors.
Rite Aid filed for Chapter 11 in October 2023 , after reporting $750 million in losses and $24 billion in revenue for the fiscal year ended March 2023 .
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