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When tough times come knocking, sometimes it’s smarter to file for bankruptcy and chart a way out. Embodying that advice, Rite Aid filed for bankruptcy on May 5, 2025, making this its second filing in less than two years. The Chapter 11 filing comes after its earlier restructuring effort in 2023 failed to stabilize the company’s finances, leaving it struggling to keep its head above the water. In continuation of the move, Rite Aid will also conduct layoffs
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n 2025. Rite Aid’s second bankruptcy announcement has come with news of store closures and job cuts due to a lack of