Thursday, January 25, 2018

Rite Aid: Transfer of stores to Walgreens on ‘track’

Chain Store Age

Rite Aid’s transfer of stores to Walgreens Boots Alliance is expected to be complete in spring of this year.

Rite Aid reported the successful transfer of 625 of its stores and related assets to Walgreens Boots Alliance. The company said it has received cash proceeds of $1.3 billion, which it is using to repay all of its $970 million of outstanding secured loans while maintaining a strong liquidity position.. . . more