Rite Aid Corporation, one of the largest pharmacy chains in America, filed for Chapter 11 bankruptcy protection in the District of New Jersey bankruptcy Court, docket #23-18993 (MBK) on October 15, 2023. According to The New York Times, heavy debt, declining sales, and more than a thousand federal, state, and local lawsuits claiming it filled thousands of illegal prescriptions for painkillers led the retail pharmacy to seek bankruptcy protection. Rite Aid has about 2,000 locations in 17 states.
The company has filed a number of motions for first day orders that is set for 1:00 pm today, October 16, 2023 before the Court.
If you are a landlord or trade creditor of Rite Aid, it is important to know your rights now. Stark & Stark’s Shopping Center and Retail Development Group can help. Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues. Most recently, our Group has represented landlords and trade creditors in the Party City, David’s Bridal, Christmas Tree, Buyk, Tuesday Morning, Mattress Firm, Toys R Us, EMS, Golfsmith, RadioShack and Sports Authority chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact shareholders Thomas Onder at (609) 219-7458 (tonder@stark-stark.com) or Joseph Lemkin at (609) 791-7022 (jlemkin@stark-stark.com).
