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Business
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
Rite Aid Plans To Close 400-Plus Stores, Report Says Rite Aid Plans To Close 400-Plus Stores, Report Says
Rite Aid Plans To Close 400-Plus Stores, Report Says Rite Aid will close 400 to 500 stores as part of a Chapter 11 bankruptcy reorganization, according to a new report. The drugstore chain is now negotiating with creditors to formulate a bankruptcy plan that would include liquidating a substantial portion of its more than 2,100 drugstores, The Wall Street Journal says. Rite Aid is facing over $3 billion in debt and more than a thousand federal lawsuits alleging it oversupplied opioids, the report said. Founded 61 years ago in Scranton, Pennsylvania, Rite Aid moved its headquarters to Philadelphia in 2022. Click here to read the complet…

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by Joe Lombardi
Lifestyle
Northern Westchester's Richard Gere Spotted At Popular Diner In Northeast Northern Westchester's Richard Gere Spotted At Popular Diner In Northeast
Northern Westchester's Richard Gere Spotted At Popular Diner In Northeast Actor Richard Gere, who resides in Northern Westchester County, made a cameo appearance at a diner in Northeast for an early morning bite on Monday, July 24, according to management.  "Look who stopped by for breakfast today," the restaurant at Sharon's Place in Scranton, Pennsylvania wrote in a Facebook post.  Look who stopped by for breakfast today!!😊😊 Posted by Sharon's Place on Monday, July 24, 2023 "Obviously, he knows who has the best breakfast in town!" wrote one restaurant-goer in the comments. "That’s amazing." Earlier report: Richard Gere Moves From One Northern Westchester…

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by Mac Bullock