Rite Aid chain reportedly could sell up to 500 stores in bankruptcy plan
According to Bloomberg, sources close to the situation have indicated that Rite Aid Corp., a USA-based drugstore chain, is considering a plan that would involve selling up to 500 of its stores in the event of a bankruptcy filing. The sources also indicate that Rite Aid is looking at ways to reduce its debt and Moody’s Investors Service just recently changed its stance on the chain’s debt to “at risk.” One of the sources has further suggested that a bankruptcy filing is a real possibility, although no final decision has been made.