UNSECURED RITE AID CREDITORS CRYING FOUL

The unsecured creditors involved in Rite Aid Corporation’s Chapter 11 bankruptcy proceedings are crying “foul.” They’re concerned about the retail pharmacy chain’s plan to award its new CEO a 20-million-dollar “success fee” when the company emerges from bankruptcy protection. The Philadelphia Business Journal reports the information was included in an April 15th filing at U.S. Bankruptcy Court in New Jersey. The company had listed debts of more than four-billion-dollars when it filed for bankruptcy last October, due to ongoing opioid litigation.