Lupin 2023

Rite Aid reportedly to buy Rx files from A&P

Print Friendly, PDF & Email

NEW YORK — Rite Aid Corp. reportedly is looking to buy prescription files and inventory from in-store pharmacies operated the Great Atlantic & Pacific Tea Co., which last month filed for Chapter 11 bankruptcy protection.

A&P Super Food Market store_featuredPublished reports said that, according to a filing by A&P with the U.S. Bankruptcy Court in White Plains, N.Y., Rite Aid has agreed to pay about $8 million acquire the script files and pharmacy stock at 12 of the supermarket retailer’s stores slated to be shut.

A&P also has requested from the judge a speedy approval of the sale so that the pharmacy assets retain their value, a Bloomberg report said Saturday. A hearing is slated for Monday. In the filing, A&P indicated that it has fielded bids for pharmacy assets at 22 of the 25 stores already earmarked for closure, Bloomberg reported.

A&P filed for bankruptcy in late July, marking the second time in five years that the food and drug retailer has sought Chapter 11 protection. In announcing the filing, A&P said it had already entered agreements to sell 120 stores for about $600 million and planned to close 25 stores immediately. Stop & Shop Supermarket Co. LLC and Acme Markets are among the buyers of the A&P stores. The remaining stores are slated to be sold or closed.

At the time of the Chapter 11 filing, A&P operated 296 stores under the A&P, Best Cellars, Food Basics, Food Emporium, Pathmark, Superfresh and Waldbaum’s banners in Connecticut, New York, New Jersey, Pennsylvania, Delaware and Maryland. About half of the supermarket locations have pharmacies.


Comments are closed.