Rite Aid chain reportedly could sell up to 500 stores in bankruptcy plan

The Rite Aid drugstore chain is reportedly considering selling up to 500 stores in the event it files for bankruptcy. The Wall Street Journal reported that the company was in talks with its creditors about the possibility of restructuring its debt amid challenging market conditions. The newspaper reported that the chain could file for bankruptcy in the coming weeks. The chain reportedly has been in talks with its creditors to restructure a $7 billion debt load, and could offer to pay creditors with future cash flows and debt backed by the proceeds from the sale of the stores. If Rite Aid does indeed file for bankruptcy, the chain could become one of the largest retailers to do so in the wake of the COVID-19 pandemic.


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