Rite Aid Corporation (RAD)

Rite Aid, which filed for bankruptcy protection twice in less than two years, is shuttering dozens of additional stores from its existing portfolio.

As the June 18 deadline for bidding on the remaining assets of Rite Aid nears, the potential buyers who are looking them over reportedly include pharmacy chain Walgreens, reality star turned entrepreneur Kourtney Kardashian, consumer-focused private equity firms, and three brand management companies: Authentic Brands Group, WHP Global and Marquee Brands.

UNITED STATES — A home decor retailer is preparing to file for Chapter 11 bankruptcy in the coming weeks to help reorganize its company to conserve cash, Bloomberg reported. At Home Group Inc. has been navigating financial turmoil that has been complicated by the nation's tariffs and ongoing trade war, according to an anonymous source contacted by Bloomberg. The retailer has about 266 stores in 40 states across the nation, according to data company Scrape Hero. The decor chain, owned by Hellman & Friedman, did not make its interest payment on May 15 and has entered a forbearance pact with lenders that began on May 23, another anonymous source told Bloomberg. That reprieve will only last through June 30, the source noted. A company spokesperson says they believe the forbearance "agreements provide us flexibility as we continue to take steps to position At Home for near and long-term success." In recent years, the company has made efforts to steer away from China as tariff-related concerns arose late last year, Bloomberg previously reported. Read more from Bloomberg: At Home Prepares to File for Bankruptcy in Coming Weeks The news comes as other retailers move forward in their bankruptcy proceedings, such as JCPenny, a legacy retail company with U.S. roots far deeper than At Home. Since JCPenney filed for Chapter 11 bankruptcy protection in 2020, more than 200 store locations have closed. The American company, which began as the Golden Rule, was founded by James Cash Penney in Kemmerer, Wyoming, in 1902. Penney later incorporated his stores as the J.C. Penney Stores Company in 1907, which had already opened 34 stores at that point, according to Britannica Money. Meanwhile, another legacy U.S. company, Rite Aid, is navigating its Chapter 11 proceedings. Rite Aid filed for bankruptcy on May 4 for the second time in less than two years after the previous restructuring lessened the pharmacy chain's debt but still left it on unsound financial footing. According to court records obtained by USA TODAY, the chain's owners said they expected auctions for Rite Aid locations to begin this month. All Rite Aid stores will eventually close or be sold to a new owner. During this process, which could take months, customers will still be able to fill prescriptions, get immunizations and shop in the stores or online. Starting next month, however, Rite Aid has said that it will stop issuing customer rewards points for purchases. It also will no longer honor gift cards or accept returns or exchanges. The company, which once had a massive footprint across the U.S., now runs 1,245 stores in 15 states, according to its website. It has a heavy presence in New York, Pennsylvania and California, which alone has 347 locations. And then, CVS will shutter 271 of its pharmacy locations this year as part of a sweeping restructuring plan, the company confirmed to Patch. The closures mark the latest in a wave of pharmacy shutdowns sweeping the nation amid shifting consumer habits and mounting industry pressures. Read more about it here.

Walgreens confirmed its only buying prescription files and not brick and mortar stores among the pharmacy assets being sold across the U.S. by Rite Aid.

Rite Aid is reportedly closing additional stores while handing off business to rivals. The drugstore chain, which recently filed for bankruptcy for the second time, has revealed 95 locations it wants to shut down, Fast Company reported, citing a court filing.

The sale agreements follow its second bankruptcy filing in two years.

CVS Health, Walgreens and grocery store chains are among the U.S. pharmacy operators Rite Aid will be selling prescription files and related pharmacy assets from more than 1,000 stores, the company confirmed Thursday night.

Rite Aid has claimed in a court filing Tuesday (May 6) that its inability to sustain a successful recovery and its subsequent return to bankruptcy protection is primarily due to sparsely stocked store shelves and to trade-down from lower-income consumers.

Rite Aid Corp. said Monday (May 5) that it has filed for Chapter 11 bankruptcy protection again, less than a year after emerging from a previous restructuring effort. This bankruptcy filing would be the company's second in under three years.

The company was unable to secure additional capital from lenders that was needed to continue operating the business, Bloomberg reported, citing a letter from CEO Matthew Schroeder.

Rite Aid has announced a leadership transition as it emerges from Chapter 11 bankruptcy. Jeffrey S.

Rite Aid has selected long-time company executive Matt Schroeder as the company's new chief executive officer as the company exits federal bankruptcy protection.

Rite Aid said the proceedings would involve continued store footprint optimization.

Interview With SmallCapVoice.com Streaming on YouTube Now Detroit, Michigan, April 18, 2024 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), is pleased to share that Steve Reinharz, CEO/CTO of AITX and RAD … The post AITX CEO, Steve Reinharz, Sets Forth the Company’s Path to appeared first on Headlines...

Detroit, Michigan, April 11, 2024 (GLOBE NEWSWIRE) — Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), has secured an initial order from a prominent healthcare provider ranked in the top 25 nationwide. The order is for multiple units of RAD’s RIO™ 360 solar-powered security towers. The specifics … The post AITX’s RAD Penetrates Further into Healthcare Market with appeared first on Headlines of Today...

Detroit, Michigan, April 04, 2024 (GLOBE NEWSWIRE) — Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), is pleased to announce that it will have the most feature presentations and panels in Company history, and likely the most participation in the show education seminars than any other participant. … The post Unprecedented Showcasing: AITX's RAD Sets Sights on ISC West with Featured Presentations and Exposure a...