Health
Rite Aid Advisers Asked to Cut Their Bills as Cash Squeezed
- Company said it settled key economic disputes in March
- Drugstore chain filed for Chapter 11 protection last year
This article is for subscribers only.
Some Rite Aid Corp. creditors have asked advisers representing the bankrupt pharmacy chain to cut their professional fees amid mounting liquidity concerns, according to people with knowledge of the situation.
The drugstore chain’s fate hangs in the balance even after cinching the terms of a global settlement with key bondholders and other creditor groups in March. Its cadre of advisers include Alvarez & Marsal, Guggenheim Securities and Kirkland & Ellis.