Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. In 2022, Rite Aid settled for up to $30 million to resolve lawsuits alleging pharmacies contributed to an oversupply […]
Tag: Bankruptcy
Black Lives Matter could go bankrupt
Black Lives Matter risks going bankrupt after running an $8.5 million deficit last year, financial disclosures indicate. The Black Lives Matter Global Network Foundation (BLMGNF) saw the value of investment accounts fall by almost $10 million in the most recent tax year, according to a copy of its tax return, first reported by The Washington […]
Bed, Bath & Beyond Bankrupt; closing all stores
Home goods retailer Bed Bath & Beyond filed for chapter 11 bankruptcy and is preparing to close its remaining stores, the company announced Sunday, after months of speculation the suffering chain would make the financial move. In a statement, Bed Bath & Beyond said it filed chapter 11 bankruptcy in New Jersey, and has begun […]
Musk does not rule out Twitter bankruptcy
Elon Musk’s tenure at Twitter got even bumpier on Thursday, as he reportedly told employees during an emergency all-hands meeting that he can’t rule out the company filing for bankruptcy in the next year. Musk made the announcement during the all-hands meeting after an employee asked about the company’s current run rate, according to both […]