Rite Aid Prepares to Sell Itself in Pieces for Second Bankruptcy

Rite Aid Corp. is running low on cash and preparing to sell itself in pieces as it heads toward its second bankruptcy, less than a year after the drug-store chain’s emergence from Chapter 11, according to people with knowledge of the situation.

The liquidity-strapped retailer is seeking a debtor-in-possession loan to help fund itself during the process, said the people, who asked not to be identified discussing a private matter. The process could see some locations in certain regions sold to bidders, while those that aren’t sold would be wound down entirely.