Rite Aid filed for Chapter 11 bankruptcy for the second time in two years, with a plan to sell substantially all of its assets.
The drugstore retailer said Monday it is in discussions with multiple potential acquirers and has secured $1.94 billion in financing to help fund the bankruptcy. Rite Aid remains open for business in the meantime and will divest or monetize any assets that aren’t sold.
This is a developing story. Read more on our website and check back in for updates.