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Rite Aid files for bankruptcy, announces financial restructuring plans amid opioid complaints, lawsuits_我的网站

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一 | Chinese Foreign Minister Wang Yi said here on Thursday that he hopes South Korea will firmly pursue a friendly policy toward China and take the 35th anniversary of the establishment of diplomatic relations between the two countries next year as an opportunity to make greater progress in the China-South Korea strategic cooperative partnership. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with South Korean President Lee Jae Myung in Seoul. Wang said the comprehensive restoration of China-South Korea relations and positive progress made since the beginning of this year have demonstrated that a rational, pragmatic and positive policy toward China fully serves South Korea's interests and is in keeping with the trend of the times. As an important force for maintaining world peace, China consistently advocates the political settlement of international and regional conflicts through dialogue, Wang said, adding that China is also a major stabilizing force, providing valuable certainty for the world. Wang also noted that China is ready to share development opportunities with all countries, especially its neighbors. Amid growing global economic fragmentation and rising trade protectionism, Wang pointed out that China and South Korea should set an example by concluding the second phase of Free Trade Agreement (FTA) negotiations at an early date to promote regional economic integration and universally beneficial and inclusive economic globalization. For his part, the South Korean president said that he was glad to see China-South Korea relations improving and developing rapidly, with strong growth momentum in economic and trade cooperation. While highlighting that people-to-people exchanges between the two countries are expected to exceed 10 million this year, Lee said that South Korean public perceptions of China are improving and there are growing expectations for strengthening comprehensive cooperation with China. Amid the current international situation, Lee said that stronger strategic cooperation between South Korea and China serves the fundamental interests of both countries and is important for regional peace and stability. South Korea and China should become mutually dependent and mutually beneficial partners with complementary strengths, Lee said, adding that the two countries need each other in areas such as economy, trade and security. Lee said he looks forward to visiting China's Shenzhen City in November for the 2026 APEC Economic Leaders' Meeting, calling it an important opportunity to work with China to advance the South Korea-China strategic cooperative partnership to a new level. During the visit, Wang also met with South Korean Foreign Minister Cho Hyun and Wi Sung-lac, South Korea's top presidential national security advisor. 。 One of the nation's largest drugstore chains has voluntarily initiated the Chapter 11 process for bankruptcy protection.Rite Aid announced Sunday that the company had reached an agreement with creditors on the terms of its financial restructuring plan that will "increase its financial flexibility" and "significantly reduce" its existing debt.In addition to billions in debt and slumping sales, Rite Aid has faced over 1,000 federal, state and local lawsuits that claim its pharmacies allegedly filled thousands of illegal prescriptions for painkillers, according to the New York Times. In March, the Justice Department filed a complaint against the company, claiming it filled "unlawful prescriptions for controlled substances" that allegedly had obvious and often multiple red flags, indicating misuse. The company has denied those claims.In its press release Sunday, the company stated it will "resolve litigation claims in an equitable manner."Rite Aid did not immediately respond to ABC News' request for additional comment.Rite Aid says it employs more than 6,100 pharmacists and operates over 2,100 retail pharmacy locations across 17 states.The company said Sunday it had secured a commitment for $3.45 billion in new financing and debt reduction agreements under the court-supervised process which is "expected to provide sufficient liquidity to support the Company throughout this process," adding that it would also close some underperforming store locations and sell off some assets in order to "reduce the Company’s rent expense" and "strengthen its overall financial performance.""The Company is making every effort to ensure customers of impacted stores have access to health services, whether at another Rite Aid or a nearby pharmacy, and will work to transfer prescriptions accordingly so that there is no disruption of services," the company stated. Rite Aid "will also transfer associates at impacted stores to other Rite Aid locations where possible."Rite Aid also announced Jeffrey S. Stein will officially take over for Elizabeth Burr as chief executive officer. He will also serve as chief restructuring officer and a member of the company's board of directors. Burr is expected to "continue in her role as a Director on the Company’s Board," Rite Aid said."Rite Aid has served customers and communities across our country for more than 60 years, and the important actions we are taking today will enable us to move ahead as a stronger company," Stein said in a statement. "With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives and accelerating the execution of our turnaround strategy. In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on now and into the future."。