Report: A&P selling prescription files to Rite Aid

NEW YORK - A&P is seeking approval to sell pharmacy assets for several of the stores it is immediately closing to Rite Aid in a transaction valued at $8.1 million, according to a Dow Jones report published Friday. 

 

According to the report, A&P on Thursday filed a report with U.S. Bankruptcy Court in White Plains, N.Y. noting that Rite Aid has agreed to buy the prescription files for 12 stores that are closing. The court will hold a hearing on the matter Monday.

 

"When a pharmacy is closing, the value of pharmacy related assets, particularly customer prescriptions, is unstable and the transactions must occur on an accelerated timeline to avoid permanent and significant diminution of value," A&P said in its Thursday filing.

 

Rite Aid is paying $5.7 million for the pharmacy records at 12 stores and up to $2.3 million for the inventory at those stores.

 

A&P filed for its latest bankruptcy - the second filing in five years - in July.