Rite Aid Is Set to Burn Lenders Who Bailed the Firm Out
The drug store’s creditors face steep losses from a second bankruptcy filing.
A Rite Aid store in Huntington Woods, Michigan.
Photographer: Emily Elconin/BloombergThis article is for subscribers only.
Welcome to The Brink. It’s Irene Garcia Perez and Reshmi Basi in New York, and Eliza Ronalds-Hannon in Atlanta, where we’ve been tracking Rite Aid’s slide into a second bankruptcy. We also have updates on Weight Watchers, Nio and Nitrogenmuvek. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Rite Aid’s most senior creditors face steep losses from a second bankruptcy filing, just months after the drug store’s own projections showed they would have been fully repaid if it had been liquidated instead of restructured.