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San Francisco Chronicle
23-06-2025
- Business
- San Francisco Chronicle
Thrifty ice cream faces uncertain future as Rite Aid closes 500 stores
Thrifty ice cream, a beloved West Coast brand for nearly a century, will shutter 500 of its in-store counters as Rite Aid moves forward with restructuring under bankruptcy protection. 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.
Irish Daily Mirror
26-04-2025
- Entertainment
- Irish Daily Mirror
Coronation Street legend who broke a world record on the show dies, aged 88
Philip Lowrie, an original member of the Coronation Street cast, has passed away at the age of 88. Born in Ashton-under-Lyne in Greater Manchester, Lowrie made his debut on the iconic soap in its inaugural episode back in 1960 and was a fixture for eight years. He made a nostalgic return to the show in 2011 and took his final bow from the series three years later in 2014. In a remarkable achievement, he was awarded a Guinness World Record in September 2011 for the longest gap between television appearances as the same character, reports the Manchester Evening News. His publicist, Mario Renzullo, confirmed the sad news with a statement on Friday (April 25), saying: "My client and very dear friend, Philip Lowrie, the beloved actor renowned for his role as Dennis Tanner on Coronation Street, passed away yesterday at 88." Renzullo added: "His death marks the end of an era for the world's longest-running soap, where he became a cornerstone of its storytelling." Lowrie was best known for his portrayal of Dennis Tanner, Elsie's son, on the cobbled streets of Weatherfield. Beyond the Street, Lowrie's talents shone in various Victoria Wood series such as As Seen on TV and Wood and Walters, and he appeared in other popular shows including Crown Court, The Liver Birds, and The Cuckoo Waltz.
The Hill
10-04-2025
- Business
- The Hill
Publishers Clearing House, known for its ‘Prize Patrol' sweepstakes, files for bankruptcy
NEW YORK (AP) — Publishers Clearing House, a decades-old marketing and sweepstakes company known for doling out large 'Prize Patrol' checks, has filed for Chapter 11 bankruptcy protection. In an announcement this week, PCH said it was using the bankruptcy process to 'finalize a shift away' from its legacy business of direct-mail, retail merchandise and magazine subscriptions. The company is hoping to instead transition to a 'pure digital advertising' model, where it will continue to offer free-to-play entertainment and prizes. The Chapter 11 proceedings, filed in New York on Wednesday, arrive amid growing financial strain for PCH — which has struggled with rising operational costs and changing consumer habits in recent years. Pivoting from its old way of doing business will help the company break free from past constraints and 'establish a strong foundation for our future,' CEO Andy Goldberg said in a statement. But that doesn't mean the famous sweepstakes are going away. PCH says it plans to operate in a 'business-as-usual manner' throughout the bankruptcy process — noting that the 'Prize Patrol' team will continuing to deliver awards across the U.S. The company says it's lined up debtor-in-possession financing from Prestige Capital to fund operations through its restructuring. PCH's roots date back to 1953 — when Harold and LuEsther Mertz and their daughter, Joyce Mertz-Gilmore, formed a business out of their Long Island, New York home to send direct-to-consumer mailings that solicited subscribers for a number of magazines through one single offering. The company later grew with chances for consumers to win money — first launching a direct mail sweepstakes in 1967 — and expanded its offerings to a wide variety of merchandise, from collectible figurines to houseware and 'As Seen on TV' accessories, in the years that followed. Its in-person 'Prize Patrol' team was formed in 1989. PCH became known for surprising prize winners with oversized checks, which was often filmed and featured in TV commercials. In Wednesday court documents, the company said it has awarded over half a billion dollars in prizes and continues to attract millions of contestants today. But its operations haven't been without financial strain — particularly in recent years. 'While PCH's direct mail and e-commerce programs were profitable for decades, changing patterns of consumer behavior, costs and competition, along with a declining pool of new prospecting names, negatively impacted the business, resulted in losses beginning in 2022,' William H. Henrich, co-chief restructuring officer for PCH, wrote in a court declaration Wednesday. Henrich pointed to a handful of cost pressures — including rising shipping and postal rates, inventory and supply chain challenges that have continued since the start of the COVID-19 pandemic and rising competition from major retailers today, like Walmart and Amazon, that have dominated the e-commerce space. PCH also faced some scrutiny from regulators who previously raised concerns about consumers mistakenly believing that making purchases from the company would improve their chances at winning its sweepstakes. As a result, PCH has racked up several costly legal settlements over the years — most recently, Wednesday's court documents note, paying $18.5 million to resolve allegations from the Federal Trade Commission in 2018. As of the end of March, PCH had total assets of nearly $11.7 million and total liabilities of about $65.7 million, court documents show. The company currently has 105 employees and an annual gross revenue of about $38 million.
Yahoo
10-04-2025
- Business
- Yahoo
Publishers Clearing House, known for its 'Prize Patrol' sweepstakes, files for bankruptcy
NEW YORK (AP) — Publishers Clearing House, a decades-old marketing and sweepstakes company known for doling out large 'Prize Patrol' checks, has filed for Chapter 11 bankruptcy protection. In an announcement this week, PCH said it was using the bankruptcy process to 'finalize a shift away' from its legacy business of direct-mail, retail merchandise and magazine subscriptions. The company is hoping to instead transition to a 'pure digital advertising" model, where it will continue to offer free-to-play entertainment and prizes. The Chapter 11 proceedings, filed in New York on Wednesday, arrive amid growing financial strain for PCH — which has struggled with rising operational costs and changing consumer habits in recent years. Pivoting from its old way of doing business will help the company break free from past constraints and 'establish a strong foundation for our future," CEO Andy Goldberg said in a statement. But that doesn't mean the famous sweepstakes are going away. PCH says it plans to operate in a "business-as-usual manner" throughout the bankruptcy process — noting that the 'Prize Patrol' team will continuing to deliver awards across the U.S. The company says it's lined up debtor-in-possession financing from Prestige Capital to fund operations through its restructuring. PCH's roots date back to 1953 — when Harold and LuEsther Mertz and their daughter, Joyce Mertz-Gilmore, formed a business out of their Long Island, New York home to send direct-to-consumer mailings that solicited subscribers for a number of magazines through one single offering. The company later grew with chances for consumers to win money — first launching a direct mail sweepstakes in 1967 — and expanded its offerings to a wide variety of merchandise, from collectible figurines to houseware and 'As Seen on TV' accessories, in the years that followed. Its in-person 'Prize Patrol' team was formed in 1989. PCH became known for surprising prize winners with oversized checks, which was often filmed and featured in TV commercials. In Wednesday court documents, the company said it has awarded over half a billion dollars in prizes and continues to attract millions of contestants today. But its operations haven't been without financial strain — particularly in recent years. 'While PCH's direct mail and e-commerce programs were profitable for decades, changing patterns of consumer behavior, costs and competition, along with a declining pool of new prospecting names, negatively impacted the business, resulted in losses beginning in 2022,' William H. Henrich, co-chief restructuring officer for PCH, wrote in a court declaration Wednesday. Henrich pointed to a handful of cost pressures — including rising shipping and postal rates, inventory and supply chain challenges that have continued since the start of the COVID-19 pandemic and rising competition from major retailers today, like Walmart and Amazon, that have dominated the e-commerce space. PCH also faced some scrutiny from regulators who previously raised concerns about consumers mistakenly believing that making purchases from the company would improve their chances at winning its sweepstakes. As a result, PCH has racked up several costly legal settlements over the years — most recently, Wednesday's court documents note, paying $18.5 million to resolve allegations from the Federal Trade Commission in 2018. As of the end of March, PCH had total assets of nearly $11.7 million and total liabilities of about $65.7 million, court documents show. The company currently has 105 employees and an annual gross revenue of about $38 million. Sign in to access your portfolio
Associated Press
10-04-2025
- Business
- Associated Press
Publishers Clearing House, known for its ‘Prize Patrol' sweepstakes, files for bankruptcy
NEW YORK (AP) — Publishers Clearing House, a decades-old marketing and sweepstakes company known for doling out large 'Prize Patrol' checks, has filed for Chapter 11 bankruptcy protection. In an announcement this week, PCH said it was using the bankruptcy process to 'finalize a shift away' from its legacy business of direct-mail, retail merchandise and magazine subscriptions. The company is hoping to instead transition to a 'pure digital advertising' model, where it will continue to offer free-to-play entertainment and prizes. The Chapter 11 proceedings, filed in New York on Wednesday, arrive amid growing financial strain for PCH — which has struggled with rising operational costs and changing consumer habits in recent years. Pivoting from its old way of doing business will help the company break free from past constraints and 'establish a strong foundation for our future,' CEO Andy Goldberg said in a statement. But that doesn't mean the famous sweepstakes are going away. PCH says it plans to operate in a 'business-as-usual manner' throughout the bankruptcy process — noting that the 'Prize Patrol' team will continuing to deliver awards across the U.S. The company says it's lined up debtor-in-possession financing from Prestige Capital to fund operations through its restructuring. PCH's roots date back to 1953 — when Harold and LuEsther Mertz and their daughter, Joyce Mertz-Gilmore, formed a business out of their Long Island, New York home to send direct-to-consumer mailings that solicited subscribers for a number of magazines through one single offering. The company later grew with chances for consumers to win money — first launching a direct mail sweepstakes in 1967 — and expanded its offerings to a wide variety of merchandise, from collectible figurines to houseware and 'As Seen on TV' accessories, in the years that followed. Its in-person 'Prize Patrol' team was formed in 1989. PCH became known for surprising prize winners with oversized checks, which was often filmed and featured in TV commercials. In Wednesday court documents, the company said it has awarded over half a billion dollars in prizes and continues to attract millions of contestants today. But its operations haven't been without financial strain — particularly in recent years. 'While PCH's direct mail and e-commerce programs were profitable for decades, changing patterns of consumer behavior, costs and competition, along with a declining pool of new prospecting names, negatively impacted the business, resulted in losses beginning in 2022,' William H. Henrich, co-chief restructuring officer for PCH, wrote in a court declaration Wednesday. Henrich pointed to a handful of cost pressures — including rising shipping and postal rates, inventory and supply chain challenges that have continued since the start of the COVID-19 pandemic and rising competition from major retailers today, like Walmart and Amazon, that have dominated the e-commerce space. PCH also faced some scrutiny from regulators who previously raised concerns about consumers mistakenly believing that making purchases from the company would improve their chances at winning its sweepstakes. As a result, PCH has racked up several costly legal settlements over the years — most recently, Wednesday's court documents note, paying $18.5 million to resolve allegations from the Federal Trade Commission in 2018.
