Sun Capital Partners backed drug store chain, Drug Fair Group, has filed for chapter 11 bankruptcy. The company is not planning on restructuring. Instead, the company has closed and sold the assets of 11 of its stores and has agreed to sell the remaining 32 to Walgreens. The company arranged a $40 million DIP loan to fund its operations until the completion of its transaction with Walgreens.
© 2022 PitchBook Data. All rights reserved. PitchBook is a financial technology company that provides data on the capital markets.