Rite Aid seeks exclusivity extension as mediation continues

By Sarah Lizee

Olympia, Wash., Feb. 12 – Rite Aid Corp. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Sunday with the U.S. Bankruptcy Court for the District of New Jersey.

The company asked the court to extend the exclusive plan filing period through April 29 and the exclusive solicitation period through June 26.

Rite Aid has already filed a plan and disclosure statement.

The company said that it is seeking the extension out of an abundance of auction.

“Against the backdrop of the ongoing mediation efforts amongst key stakeholders, there is good cause to grant this first extension request, and the modest extension will allow the parties to focus on constructive mediation efforts,” Rite Aid said in the motion.

A hearing is scheduled for March 5.

Rite Aid is a full-service pharmacy with headquarters in Philadelphia. The company filed bankruptcy on Oct. 15 under Chapter 11 case number 23-18993.

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