Hilco Global is serving as the agent to market and sell the Rite Aid brand and related assets, with bids for the intellectual property due October 31.
The sale is subject to approval of the United States Bankruptcy Court for the District of New Jersey, where Rite Aid filed for Chapter 11 protection, but Hilco is moving forward with it. If necessary, Hilco will hold an asset auction on November 6.
The available assets include the Rite Aid brand and the riteaid.com domain name; private-label brands including RYSHI, PawTown, Refreshery and Tugaboos; and loyalty data from front-end sales, including general merchandise. The sale does not include prescription files.
In announcing the sale, David Peress, Hilco Global executive director of IP services, said, “This is a rare opportunity to acquire one of the most well-known retail healthcare brands in the U.S. The Rite Aid brand can be immediately leveraged across multiple sectors, from e-pharmacy and digital health to health and beauty and consumer-packaged goods, to meaningfully engage with consumers across sales channels.”
