Rite Aid has received a commitment for $3.45 billion in new financing; names Jeffrey Stein as CEO, succeeding Elizabeth Burr, who has served as interim CEO since January 2023.
The retailer’s common stock will continue to be listed and traded on the NYSE during the 'cure periods,' subject to the company’s compliance with other continued listing requirements.
Rite Aid is reportedly planning to file for bankruptcy to address federal and state lawsuits it is facing over its alleged role in the sale of opioids, per a WSJ report.
