A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt. Rite Aid also said lenders agreed to provide $3.45 billion in new funding to "provide sufficient liquidity" as it embarks on its restructuring plan. During its most recent quarter ended June 3, revenue fell to $5.6 billion, down from $6.01 billion in the year-ago period. Rite Aid Chairman Bruce Bodaken said in a statement, "Jeff is a proven leader with a strong track record of guiding companies through financial restructurings.

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Persons: hasn't, Jeffrey Stein, Elizabeth Burr, Bruce Bodaken, Jeff, Stein Organizations: New York City . Rite Aid, Aid, Rite Locations: Brooklyn, New York City, New Jersey