PHILADELPHIA — Rite Aid has agreed with its financial stakeholders, including creditor groups, the U.S. Justice Department, and drug distributor McKesson, to complete its bankruptcy process by April.
“We have reached an agreement on all key points with all key economic stakeholders,” Rite Aid attorney Aparna Yenamandra said at a bankruptcy court hearing in Trenton, New Jersey. Yenamandra did not provide details about the settlement, saying that some issues needed to be worked out before it can be presented in court.
The deal is not opposed by creditors who have sued Rite Aid over its sale of opioid medications, Yenamandra said. Before it filed for bankruptcy, Rite Aid faced over 1,600 lawsuits alleging that pharmacy chain ignored red flags and illegally filled prescriptions for addictive opioid medication.
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