1. Channel: Drug

Rite Aid Takes Steps to Accelerate Transformation and Position Company for Long-Term Success

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PHILADELPHIA–(BUSINESS WIRE)–Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation. Implementing the contemplated restructuring plan will significantly reduce the Company’s debt, increase its financial flexibility and enable it to execute on key initiatives.

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