Rite Aid cancels auction for Elixir assets, eyes sale to stalking horse

By Sarah Lizee

Olympia, Wash., Dec. 21 – Rite Aid Corp. canceled an auction for its Elixir assets and will seek approval of a $575 million sale to stalking horse bidder MedImpact Healthcare Systems, Inc., according to a notice filed Thursday with the U.S. Bankruptcy Court for the District of New Jersey.

A sale hearing is scheduled for Jan. 9.

The Elixir sale doesn’t contemplate the sale of any of the debtors’ retail pharmacy locations or related leases.

Rite Aid is a full-service pharmacy with headquarters in Philadelphia. The company filed bankruptcy on Oct. 15 under Chapter 11 case number 23-18993.

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