85-year-old iconic ice cream chain Thrifty to close 500 stores as it goes bankrupt, fans mourn its cult status

Time of India

5 days ago

Thrifty Ice Cream, a beloved American brand for 85 years, is closing 500 store counters as Rite Aid files for bankruptcy:
The story of Thrifty Ice Cream, an 85-year-old brand cherished across generations, has taken a heartbreaking turn. As part of Rite Aid's ongoing Chapter 11 bankruptcy proceedings, 500 Thrifty Ice Cream counters inside Rite Aid stores across the U.S. are shutting down, according to TheStreet.
This decision comes as Rite Aid, the parent company that owns Thrifty Ice Cream, works to wind down its operations in a major restructuring move. These closures mark a major shift for many fans who grew up visiting their local Rite Aid stores just for a scoop of Thrifty's famously affordable and nostalgic ice cream.
Why is Thrifty Ice Cream closing 500 stores?
The closure of 500 Thrifty Ice Cream counters is directly tied to Rite Aid's Chapter 11 bankruptcy, which began in 2023 and escalated into early 2025. Rite Aid is shutting down locations to manage debt, legal liabilities, and losses stemming from lawsuits related to opioid prescriptions.
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While the ice cream brand itself is not bankrupt, the counters operating inside Rite Aid stores are now part of the asset wind-down plan. These counters have long been a familiar sight, especially in states like California, where Thrifty ice cream holds a near-cult following.
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This move doesn't mean the end of Thrifty altogether—but the in-store counters, where fans once lined up for hand-scooped cones at budget-friendly prices, are vanishing fast.
Can you still buy Thrifty Ice Cream anywhere?
Yes, Thrifty Ice Cream is still being produced at its factory in El Monte, California. That facility continues to churn out the signature flavors customers love—like Chocolate Malted Krunch and Butter Pecan—which are sold in pre-packaged cartons at select grocery stores and standalone shops across the West Coast.
85-year-old iconic ice cream chain Thrifty to close 500 stores as it goes bankrupt, fans mourn its cult status
However, the hand-scooped counter experience—those chrome dipping cabinets, the flat-headed scoops, the $1.99 cones—is what many consider the true spirit of Thrifty. And that's what's going away with these 500 closures.
So, while you can still enjoy the ice cream itself, the classic Rite Aid in-store experience is disappearing.
Why do people care so much about Thrifty Ice Cream?
For many Americans, especially on the West Coast, Thrifty Ice Cream isn't just dessert—it's nostalgia in a cone.
The brand began in 1940, originally part of Thrifty Drug Stores, which was later bought by Rite Aid in 1996. Over the decades, generations of families have made Thrifty Ice Cream part of their daily errands or weekend routines. The iconic cylinder-shaped scoops, low prices, and bold flavors made it a go-to treat for kids and adults alike.
Social media has been filled with reactions from fans mourning the closures. Some shared memories of buying cones after school, while others recalled first dates or family outings that began with a trip to the Thrifty counter.
What next for Rite Aid and Thrifty?
Rite Aid continues to restructure under Chapter 11, and more store closures could follow. As of early 2025, Rite Aid has already closed over 500 stores nationwide, and more are expected as the company tries to stay afloat.
For Thrifty Ice Cream, the production and distribution side still survives—but without its retail counters, the brand loses a big part of what made it special.
There's no official word yet on whether Thrifty plans to reopen new standalone locations or expand its presence outside of Rite Aid. For now, fans will have to settle for packaged ice cream—and the memories of those chrome counters and scoops that once defined a simple American joy.