Rite aid receives court approval of "first day" motions to support business operations

Philadelphia--(business wire)--rite aid corporation (otc: radcq) (“rite aid” or the “company”) today announced that it has received approvals from the u.s. bankruptcy court for the district of new jersey for its “first day” motions related to the company's voluntary chapter 11 petitions filed on october 15, 2023. the court granted interim approval to access up to $3.45 billion in debtor-in-possession financing from certain of its lenders. this financing is expected to provide sufficient liquidi.
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