Two failed mergers in recent years have left Rite Aid a shadow of its former self. The company transferred more than 1,600 stores to Walgreens Boots Alliance (NYSE: WBA ) last year for $3.6 billion, after a long-running effort to sell the whole company to Walgreens collapsed under the objection of regulators. But even after that move, it still has over $3.4 billion in long-term debt.