Heavily-indebted Rite Aid might finally go bankrupt due to skyrocketing interest rate

[KCAB]

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“Higher rates already are crimping financing for heavily-indebted companies such as Dunn Paper, a maker of specialty paper in Port Huron, Mich., which missed an interest payment at the end of March. The total value of debt considered “distressed” by S&P Global Ratings has nearly doubled over the past month to $49 billion, including securities from companies such as Rite Aid and Bed Bath & Beyond, as investors demand higher yields from such risky issuers.”

https://www.washingtonpost.com/business/2022/06/19/fed-rates-economy-markets/

 

[confettiflyer]

Long live Thrifty Ice Cream

 

[VA77]

I think most of us have been saying this for a while. Almost had a private takeover back in April

 

[lord999]

RiteAid has been almost dead for 40 years. I’ll believe it when I see the blighted remains.

 

[confettiflyer]

RAD is like the Sears of pharmacy, and Thrifty Ice Cream the Craftsman Tool line of the store.

 

[PharFromNormal]

RAD is like the Sears of pharmacy, and Thrifty Ice Cream the Craftsman Tool line of the store.

So who will be Stanley Black & Decker?

 

[mentos]

"Haters might say that the job market is crumbling. They just can't see that the possibilities are doubling."

 

[confettiflyer]

So who will be Stanley Black & Decker?

Oh good question. My first guess will be a private equity firm, followed by a private equity joint venture with Nestle or something.

 

[nampa]

We all got screwed with the botched sale back in 2017 when walgreens was only allowed to buy half of the stores. It was clear that the CEO, stenton, could care less about the business, like Landreu with Kmart/Sears, and was looking at a buyout to goose his personal income. That never happened and so no plan to save the company happened, including not selling their PBM, probably to boost stock options that year.