Rite Aid Agrees to Mediation With Opioid Victims, Creditors (1)

Bankrupt pharmacy chain Rite Aid Corp. agreed to begin court-supervised mediation with lower ranking creditors, including groups that blame the company for contributing to America’s opioid addiction crisis.

The company, backed by senior lenders, will negotiate with unsecured creditors about how to end the retailer’s insolvency case and on a potential loan package to fund the company’s exit from bankruptcy, Rite Aid attorney Aparna Yenamandra said in court Tuesday. The company will try reach a deal before the end of January, Yenamandra said.

The pharmacy chain held a video court hearing Tuesday to ask US Bankruptcy Judge Michael Kaplan to ...