/>iRite Aid Corporation filed a Chapter 11 bankruptcy petition for the second time in two (2) years in the District of New Jersey Bankruptcy Court, docket #25-14731 (MBK) on May 5, 2025. A repeat filing like this is often referred to as a “Chapter 22” – two (2) Chapter 11 filings in a row.
The company issued a press release that noted it was pursuing a sale process, which it intends to conduct under section 363 of the U.S. Bankruptcy Code. The company also noted that it secured commitments from certain of its existing lenders to access $1.94 billion in new financing. This financing, along with cash from operations, is expected to provide sufficient funding during the sale and court-supervised process.
Rite Aid also noted that intends to divest or monetize any assets that are not sold through the court-supervised process.
If you are a landlord or trade creditor of Rite-Aid, it is important to know your rights now.
