Despite bankruptcy, Lebanon Rite Aid stays operational
November 1, 2023
Rite Aid Corporation announced on Oct. 15 that it initiated a voluntary court-supervised Chapter 11 Bankruptcy and reached an agreement for a financial restructuring plan following years of financial difficulties.
The bankruptcy filing allows the company to continue operating while it “restructures” itself. That means Rite Aid itself is not going out of business, but it does mean some of its store locations will close. Many store locations have already been listed on the chopping block, but as of Oct. 26, the Lebanon location has not been identified among them.
The company’s troubles...