Thrifty ice cream faces uncertain future as Rite Aid closes 500 stores
The closures are part of the pharmacy chain's broader efforts to cut costs and sell off assets after filing for Chapter 11 this month. Since acquiring Thrifty Drug Stores in 1996, Rite Aid has served the brand's signature cylindrical, flat-topped scoops at counters in many of its 1,200 stores.
Rite Aid plans to close more than 20 stores in California and auction off its intellectual property, including the Thrifty ice cream brand and its longtime factory in El Monte (Los Angeles County), which has been in operation since 1976.
The factory replaced Thrifty's original Hollywood plant, which opened the same year the brand debuted in 1940.
While Thrifty counters will soon disappear, prepackaged Thrifty ice cream will continue to be sold at stand-alone locations and major retailers nationwide.
But as Los Angeles Times columnist Jenn Harris playfully points out, 'It is a scientific fact that your ice cream cone will taste at least 38% better if it's eaten while perusing the As Seen on TV aisle of your local Rite Aid.'
Known for offbeat flavors such as Chocolate Malted Krunch, bacon cheddar and a Chuck E. Cheese birthday cake collaboration, Thrifty remains a nostalgic favorite. The brand's future now hinges on Rite Aid's asset sale, with potential buyers required to submit offers by the end of June.
'While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors,' Rite Aid CEO Matt Schroeder said in a recent statement.
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