Rio Linda, CA (September 3, 2024) – Good news for Rio Linda residents! Our local Rite Aid pharmacy has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy. This means a stronger, more efficient Rite Aid for our community.
What this means for you:
- Continued Quality Service: Rite Aid remains committed to providing leading pharmacy services and improving your health and wellness.
- Focus on Community: The company plans to continue serving Rio Linda with a focus on delivering for its customers and stakeholders.
Financial Changes:
- Reduced Debt: Rite Aid has eliminated roughly $2 billion in debt, making them a more stable company.
- New Ownership: The ownership of Rite Aid has transitioned to certain creditors. Existing common shares have been cancelled.
- New Leadership: Matt Schroeder, previously the Chief Financial Officer, is now the Chief Executive Officer.
This signals a positive change for Rite Aid in Rio Linda. The pharmacy will continue to operate, with a focus on providing excellent service while being more financially secure.
For more information, see https://news.riteaid.com/press-releases/press-release-details/2024/Rite-Aid-Completes-Restructuring-Process-and-Emerges-from-Chapter-11/default.aspx
