Rite Aid to file second bankruptcy, announces job cuts

By Ike Swetlitz and Jonathan Randles | Bloomberg
Rite Aid has told its employees it intends to file bankruptcy less than a year after completing an earlier restructuring that failed to turn around the troubled pharmacy chain.
The company was unable to secure additional capital from lenders in order to continue operating the business and now intends to file Chapter 11, Chief Executive Officer Matthew Schroeder said in a letter to employees that was reviewed by Bloomberg News. The drug store chain