
Rite Aid readies to sell off remaining assets
Walgreens is among the major bidders for Rite Aid’s remaining assets ahead of the June 18 deadline, including interest in the company’s intellectual property and loyalty program.
Walgreens is among the major bidders for Rite Aid’s remaining assets ahead of the June 18 deadline, including interest in the company’s intellectual property and loyalty program.
The deadline for final offers for Rite Aid assets is June 18.
The U.S. Bankruptcy Court of New Jersey approved CVS Pharmacy bids on the prescription files of 625 Rite Aid pharmacies across 15 states in areas that CVS serves, as well 64 Rite Aid stores in Idaho, Oregon and Washington.
Customers transferring or filling a new prescription will receive coupon for up to $15 off next grocery purchase of $75 or more.
Agreements provide for the transition of pharmacy assets to CVS Pharmacy, Walgreens, Albertsons, Kroger, and Giant Eagle, among others, and the sale and operation by CVS Pharmacy of many stores in the Pacific Northwest.
Walgreens is looking to help Rite Aid customers and employees who are impacted by store closures in their local community.
The company is working to transfer prescriptions.
While its stores are open, the company said it is working to transfer prescriptions to other pharmacies. Rite Aid employees assisting with this process will continue to receive pay and benefits.
Rite Aid filed for Chapter 11 bankruptcy protection in October 2023. It emerged from bankruptcy as a private company.
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