Overview

• Rite Aid's second Chapter 11 bankruptcy in two years has led to a court-approved sale of its pharmacy assets to CVS, Walgreens, Albertsons, Kroger, and others.
• CVS emerges as the largest buyer, acquiring prescription files for 650 locations and 64 physical stores across three states.
• Judge Michael Kaplan rejected landlord objections over the nondisclosure of lease-sale details, emphasizing the importance of uninterrupted prescription services.
• Rite Aid has buyers for prescription files at 810 stores but failed to secure buyers for files at approximately 200 locations.
• An auction for Rite Aid's remaining assets is scheduled for June, as the company continues winding down operations while keeping pharmacies open during the transition.