**A&G Real Estate Partners Lists 1,200 Rite Aid Store Leases as Part of Bankruptcy Sale**
A&G Real Estate Partners has listed nearly 1,200 retail leases and 50 fee-owned properties across 15 states as part of the ongoing bankruptcy proceedings for Rite Aid. The pharmacy chain is working to sell its entire business rapidly.
U.S. Bankruptcy Judge Michael Kaplan approved Rite Aid’s request for an expedited sale during a recent court hearing in Trenton, New Jersey. Judge Kaplan emphasized the urgency of finding buyers quickly to ensure a smooth transfer of prescription services for the company’s eight million customers.
According to sale procedures approved by the court, bids for Rite Aid’s pharmacy assets are due by May 13. Final approval of one or more sales is expected to take place during a court hearing on May 21.
Rite Aid entered bankruptcy with more than $2 billion in debt. The company cited ongoing struggles within its retail division, which have impacted its ability to maintain sufficient cash flow and restock inventory.
