Rite Aid Files for Bankruptcy, Job Cuts Expected

Rite Aid Corp. said Monday (May 5) that it has filed for Chapter 11 bankruptcy protection again, less than a year after emerging from a previous restructuring effort.This bankruptcy filing would be the company’s second in under three years. Rite Aid initially filed for Chapter 11 in October 2023. That process aimed to reduce approximately $2 billion in debt and involved closing around 850 store locations, ultimately resulting in lenders taking control of the business.Rite Aid emerged from that bankruptcy in ...