UPDATE 1-Rite Aid to operate as private company as it emerges from Chapter 11 bankruptcy

Reuters09-04

(Adds details in paragraph 2-5)

Sept 3 (Reuters) - U.S. drugstore chain Rite Aid said on Tuesday it would operate as a private company as it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy.

Ownership of the company has transitioned to certain Rite Aid creditors, and all of Rite Aid’s existing common shares were cancelled, it said.

Rite Aid also said its Chief Financial Officer Matt Schroeder has been appointed CEO, succeeding Jeffrey Stein.

The company said it has eliminated about $2 billion of total debt and has received about $2.5 billion in exit financing to support the business going forward.

(Reporting by Sriparna Roy in Bengaluru; Editing by Janane Venkatraman)

((Sriparna.Roy@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2464384157?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-04 00:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2464384157","market":"us","top_or_hot":-1,"title":"UPDATE 1-Rite Aid to operate as private company as it emerges from Chapter 11 bankruptcy","media":"Reuters","content":"<html><body><p>(Adds details in paragraph 2-5)</p><p>      Sept 3 (Reuters) - U.S. drugstore chain Rite Aid said on Tuesday it would operate as a private company as it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy.</p><p>       Ownership of the company has transitioned to certain Rite Aid creditors, and all of Rite Aid’s existing common shares were cancelled, it said.</p><p>       Rite Aid also said its Chief Financial Officer Matt Schroeder has been appointed CEO, succeeding Jeffrey Stein.</p><p>       The company said it has eliminated about $2 billion of total debt and has received about $2.5 billion in exit financing to support the business going forward.</p><p> (Reporting by Sriparna Roy in Bengaluru; Editing by Janane Venkatraman)</p><p>((Sriparna.Roy@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UPDATE 1-Rite Aid to operate as private company as it emerges from Chapter 11 bankruptcy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUPDATE 1-Rite Aid to operate as private company as it emerges from Chapter 11 bankruptcy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-04 00:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Adds details in paragraph 2-5)      Sept 3 (Reuters) - U.S. drugstore chain Rite Aid said on Tuesday it would operate as a private company as it successfully completed its financial restructuring and...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4128","symbol_name":"药品零售","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2464384157","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464384157","pubTimestamp":1725380184,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(Adds details in paragraph 2-5)      Sept 3 (Reuters) - U.S. drugstore chain Rite Aid said on Tuesday it would operate as a private company as it successfully completed its financial restructuring and","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4128":"药品零售","RAD":"来德爱"},"translate_title":"更新1-Rite Aid摆脱美国破产法第11章破产后将作为私营公司运营","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RAD":1},"content_text":"(Adds details in paragraph 2-5)      Sept 3 (Reuters) - U.S. drugstore chain Rite Aid said on Tuesday it would operate as a private company as it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy.       Ownership of the company has transitioned to certain Rite Aid creditors, and all of Rite Aid’s existing common shares were cancelled, it said.       Rite Aid also said its Chief Financial Officer Matt Schroeder has been appointed CEO, succeeding Jeffrey Stein.       The company said it has eliminated about $2 billion of total debt and has received about $2.5 billion in exit financing to support the business going forward. (Reporting by Sriparna Roy in Bengaluru; Editing by Janane Venkatraman)((Sriparna.Roy@thomsonreuters.com;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2464384157"}