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Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits
Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits One of the country’s largest pharmacy chains has just filed for bankruptcy. The move by Rite Aid comes amid declining sales and a rise in debt, which hit $3.3 billion, according to midyear filings.  The company said in an announcement on Sunday, Oct. 15 that in connection with the filing, it has received a commitment for $3.45 billion in new financing from some of its lenders.  "This financing is expected to provide sufficient liquidity to support the company throughout this process," Rite Aid said. Rite Aid is one of a number of drugstore chains facing litigation related to the…

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by Joe Lombardi
Business
Chris Cuomo Sues CNN For $125M, Citing 'Smear Campaign' After His Firing, Reports Say Chris Cuomo Sues CNN For $125M, Citing 'Smear Campaign' After His Firing, Reports Say
Chris Cuomo Sues CNN For $125M, Citing 'Smear Campaign' After His Firing, Reports Say Former CNN anchor Chris Cuomo is planning a massive lawsuit against his former employers after he was accused of misconduct in the workplace, according to new reports, including by Deadline. Cuomo, who was let go by CNN in late 2021, is alleging that CNN and parent company WarnerMedia launched a “smear campaign” against him, and he is seeking more than $125 million in damages, claiming that his career has suffered as a result of their actions. 
“Cuomo has had his journalistic integrity unjustifiably smeared, making it difficult if not impossible for Cuomo to find similar work in the future …

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by Zak Failla
Business
COVID-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent COVID-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent
Covid-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent The owner of Corbin’s Corner shopping plaza in West Hartford is suing Old Navy for $231,000 in unpaid rent. The owners, Florida-based Regency Centers, sued Old Navy on July 7 in Hartford Superior Court. The lawsuit alleges that Old Navy owes Corbin’s Corner rent for April-June as well as thousands of dollars in tax and insurance expenses. Old Navy, a clothing retailer under Gap Inc., pays about $53,900 in rent per month to stay at Corbin’s Corner. Corbin’s Corner hosts a number of retailers including Best Buy, Trader Joe’s, and Pet Valu. This isn’t the first sign of trouble for Gap Inc. T…

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by Kristin Palpini