Rite Aid to Sell Customer Prescriptions to Rival Pharmacies

Rite Aid won court approval to run an expedited process to sell customers’ prescription information to rival pharmacies as the bankrupt firm prepares to unload or close its stores.

The sale process is being run by Guggenheim Securities, the chain’s investment banker. Guggenheim is talking with more than a dozen parties who are exploring potential bids on prescriptions at the remaining stores, Rite Aid lawyer Alice Eaton said during a Wednesday hearing in New Jersey. Names of potential bidders weren’t disclosed.

Rite Aid has said prescriptions are the company’s most valuable asset and that a sale must be completed ...