How Unsecured Creditors Shape M&A Outcomes

When a company is sold in distress or restructuring, the people who stand to lose the most aren't the shareholders — they're the unsecured creditors: the trade suppliers, bondholders, and service providers who extended credit without collateral. In Episode 34 of The Acquisition Talk, Lucas and Luna unpack the 2024 case of Rite Aid's bankruptcy sale to explain how unsecured creditor committees can block, shape, or accelerate a deal. They walk through the legal lever known as the 'cramdown' in a Chapter 11 plan, how a committee of unsecured creditors forced Rite Aid to sweeten its deal with MedMen by $170 million, and what operators should know when they're on either side of a distressed sale. Specific numbers, the time line, and the strategy for creditor-friendly deal-making. No theory — just the mechanics. #MergersAndAcquisitions #DistressedM&A #Restructuring #Chapter11 #UnsecuredCreditors #CreditorCommittee #Cramdown #RiteAid #BankruptcySale #BusinessAcquisition #DealMaking #BusinessPodcast #FexingoBusiness #AcquisitionTalk #MADeals #BusinessStrategy #Finance #LegalStrategy Keep every episode free: buymeacoffee.com/fexingo