**A&G Real Estate Partners Lists 1,200 Rite Aid Store Leases in Bankruptcy Sale**
A&G Real Estate Partners has placed nearly 1,200 retail leases and 50 fee-owned properties across 15 states on the market. This major move comes as part of Rite Aid’s ongoing bankruptcy proceedings, with the national pharmacy chain working to sell its business under tight deadlines.
In a recent court hearing in Trenton, New Jersey, U.S. Bankruptcy Judge Michael Kaplan approved Rite Aid’s request for an expedited sale process. The judge emphasized the critical need to quickly secure buyers in order to ensure the smooth transition of prescription services for the company’s approximately eight million customers.
Under the court-approved sale procedures, bids for Rite Aid’s pharmacy assets are due by May 13. The company is set to seek final approval of one or more sales during a follow-up court hearing scheduled for May 21.
Rite Aid filed for bankruptcy amid more than $2 billion in debt, citing underperformance in its retail operations. The financial strain has hampered the company’s ability to maintain cash flow and restock its inventory, prompting a strategic sell-off of assets as it attempts to regroup or exit the business entirely.
