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

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Born and raised in Rio Linda, a graduate of Rio Linda High School, and a resident for most of the last 50 years. Co-Chair for the Rio Linda Elverta Neighborhood Association, announcer for Rio Linda Knights...