Rite Aid News 2024. Rite aid, which filed for bankruptcy protection last year, closed eight stores this year and now operates just 46 in the city. Has been cleared to exit bankruptcy after winning court approval on a restructuring plan that’s poised to save the ailing pharmacy chain from liquidation by handing.

Pharmacy chains, received permission from a u.s. Bankruptcy judge on friday approved rite aid’s restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.