Rite Aid Taps Into DIP Loans, Sets Fast Ch. 11 Sale Schedule
Bankrupt drugstore chain Rite Aid won initial approval from a New Jersey judge on Monday to tap into some of its $3.45 billion financing package while it seeks buyers for its retail and pharmacy management businesses on a quick timeline to try to avoid more layoffs.
The debtors are represented by Michael D. Sirota, Warren A. Usatine, Felice R. Yudkin and Seth Van Aalten.
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