Now May 21: Day of Reckoning for Rite Aid
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I can’t guarantee this news, but from a reliable person.
Rite Aid Co. heads to bankruptcy court on April 22nd, at that time a decision will be made if the chain can continue with its reorganization/downsize or be forced to liquidate the entire chain at a specified date.
Also received word today that my favorite RA (that’s left) will be closing in late May or mid June (conflicting dates) But it will be closing.
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@mistercheap which city/state?
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@q-shopper said in April 22nd: Day of Reckoning for Rite Aid (per employee):
@mistercheap which city/state?
I’ll share when appropriate, don’t want to get people I’m friendly with in trouble. Should be able to post with a week. thanks.
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@mistercheap I asked because of some odd behaviour at our local store.
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@q-shopper said in April 22nd: Day of Reckoning for Rite Aid (per employee):
@mistercheap I asked because of some odd behaviour at our local store.
Understand, I can tell you the closure is in the state of PA.
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@mistercheap thanks, not my State.
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Well, today is the day of reckoning according to zMC’s employee informant. If anyone hears any news or updates, please share.
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@mrvietnam said in April 22nd: Day of Reckoning for Rite Aid (per employee):
Well, today is the day of reckoning according to zMC’s employee informant. If anyone hears any news or updates, please share.
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Monday, April 22, 2024
Please be advised that the Combined Hearing to consider the adequacy of the Disclosure Statement Relating to the Second Amended Joint Chapter 11 Plan of Reorganization [Docket No. 2512] and confirmation of the Second Amended Joint Chapter 11 Plan of Reorganization [Docket No. 2511] is ADJOURNED and will not be going forward on Monday, April 22, 2024. Please see the Notice of Adjournment of the Combined Hearing filed at Docket No. 2925 for more information.
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I wonder what the new Day of Reckoning will be?
From what I gather, it has not yet been determined. Makes you wonder why the hearing was adjourned and did not go forward today.
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@mrvietnam pretty sure I read that it is May 21st.
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im finding better clearance (75%) at stores that are still open, compared to the ones that are going out of business (10-20%)
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At least we should get our BCC money payable around 5/5.
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The new day of reckoning came and passed 3 days ago. Does anyone have any word about what, if anything, happened?
It looks like it was punted until today?
The Status Conference initially scheduled for Thursday, May 23, 2024 is ADJOURNED to FRIDAY, MAY 24, 2024 AT 11:00 A.M. Please mark your calendars accordingly. Parties who already registered and received panelist credentials and permission to present remote argument do NOT need to re-register. Please use the same panelist information previously sent to you.
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nvm…
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More store closings hit the list.
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Per a store manager: The court date was recently finally held. He said while there may be more store closures to come, as a ‘chain’ they are likely ok until after the New Year when things would be evaluated again.
Take it for what’s it’s worth, but hopefully true that that would still be around for at least the rest of 2024.
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As we can see from the lists, the MI & OH stores are closing. That’s ~300 stores if they all close. I saw the following but my brain doesn’t process legalese. Others interpreted it as meaning that Wags would buy the remaining inventory including the contents of the Pharmacies.
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Given just a few days ago Walgreens announced they intended to close a bunch of stores, it’s surprising they’d be taking on any of Rite Aid’s stores.
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@mistercheap I don’t think they’re taking the stores; I think it’s the contents like the prescription meds and other stuff that doesn’t get clearanced.
