Business News, Private Finance And Money News
As a result of the tough quarter, Rite Aid lowered its fiscal 2024 outlook and warned buyers it expects to lose between $650 million and $680 million for the complete 12 months, which is slated to end in late February. The beleaguered drugstore chain has been grappling with slowing sales, mounting debt and a slew of lawsuits that allege the company helped fuel the nation’s opioid epidemic by oversupplying painkillers. Rite Aid also said lenders agreed to extend $3.45 billion in new funding to “present adequate liquidity” because it embarks on its restructuring plan. Drugstore chain Rite Aid filed for Chapter 11 chapter safety in New Jersey. San Diego Police Chief David Nisleit told local media this month that SB 357’s repercussions with crime have been “all predictable.” “The criminals who have been taken down as part of this operation abused and exploited women for their very own enrichment,” Gloria …