Rite Aid Flags ‘Going Concern’ Risk Days After Bankruptcy Filing

Pharmacy chain Rite Aid Corp. issued a belated warning to investors that it may not stay afloat over the next 12 months, three days after filing for bankruptcy protection.

“Substantial doubt about the Company’s ability to continue as a going concern exists in light of its Chapter 11 Cases,” Rite Aid disclosed Wednesday in a quarterly financial filing that was supposed to be submitted last week.

The company said Oct. 12 it missed the deadline to file its quarterly 10-Q report because it needed more time to analyze whether to impair its assets and review “strategic alternatives” to recapitalize or ...