Brief: Rite Aid Receives Court Approval Of "First Day" Motions To Support Business Operations

Rite Aid

17/10/2023 16:08

Oct 17 (Reuters) - Rite Aid Corp  RAD.N :
    * RITE AID RECEIVES COURT APPROVAL OF "FIRST DAY" MOTIONS TO
SUPPORT BUSINESS OPERATIONS
    * RITE AID CORP- SECURES INTERIM APPROVAL TO ACCESS UP TO
$3.45
BILLION IN DEBTOR-IN-POSSESSION FINANCING
    * RITE AID CORP - COURT GRANTED INTERIM APPROVAL TO ACCESS
UP TO
$3.45 BILLION IN DEBTOR-IN-POSSESSION FINANCING FROM CERTAIN OF
ITS LENDERS
    * RITE AID CORP - FINANCING IS EXPECTED TO PROVIDE
SUFFICIENT
LIQUIDITY TO SUPPORT COMPANY THROUGHOUT THIS PROCESS
    * RITE AID CORP - ELIXIR SOLUTIONS IS OPERATING NORMALLY AND
CONTINUING TO SERVE CLIENTS, PLAN SPONSORS, MEMBERS AND
CUSTOMERS AS USUAL
    * RITE AID CORP - ELIXIR INSURANCE IS NOT INCLUDED IN RITE
AID'S
CHAPTER 11 PROCESS OR PROPOSED TRANSACTION WITH MEDIMPACT
    * RITE AID - COURT AUTHORIZED CO TO PAY ASSOCIATE WAGES,
SALARIES,
BENEFITS WITHOUT INTERRUPTION
    * RITE AID CORP - COURT AUTHORIZED CO TO PAY VENDORS AND
SUPPLIERS
IN FULL FOR GOODS AND SERVICES PROVIDED ON OR AFTER FILING DATE
OF OCTOBER 15

Source text for Eikon:  ID:nBwbvMnPCa 
Further company coverage:  RAD.N 

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