A popular brand of ice cream that is sold through pharmacy stores and has been around for over 80 years may soon become a thing of the past. The pharmacy chain, Rite Aid, which owns Thrifty Ice Creams, filed for Chapter 11 bankruptcy last month and is in the process of closing more than 500 locations nationwide. This also means that Thrifty Ice Creams, traditionally sold at in-store counters, will also be saying goodbye.
Highlights
- Thrifty Ice Cream counters at 500 or so Rite Aid locations will be closed down soon.
- Rite Aid owns Thrifty Ice Creams, and as the company has filed for bankruptcy, the most likely scenario is that it will be sold as one of the company’s assets.
- With a history that goes back over eight decades, Thrifty Ice Cream has been a favorite treat for people across generations.
Thrifty Ice Cream to Disappear Along with Rite Aid
Ice cream lovers, especially those along the west coast, may be familiar with Thrifty’s signature cylindrical scoops and innovative flavors. Many of the visitors to Rite Aid were there more often for the ice cream than for medicines. The ice cream brand holds nostalgic value for many long-time customers.
A Brief Look At The History of The Ice Cream Brand
The story of Thrifty Ice Cream begins in downtown Los Angeles in 1929. Thrifty Drugstore was started by two brothers, Harry and Robert Borun, along with their brother-in-law, Norman Levin. As was common back in the day, the pharmacy store had a counter where they would sell ice cream from other brands. Soon enough, the entrepreneurs recognized an opportunity and decided to create the Thrifty Ice Cream brand.
The first Thrifty Ice Cream factory was opened in 1940 in West Hollywood, and later, in 1976, they moved to the current facility in El Monte. In the following years, the ice cream became very popular, garnering many celebrity endorsements and winning over 1,600 gold medals in global dairy competitions.
Rite Aid acquired Thrifty Drug Stores in 1996. The ice cream brand came along with the deal.
What Does the Future Hold for Thrifty Ice Cream?
The most likely scenario for Thrifty Ice Cream is that it will be bought along with Rite Aid. As the vast majority of Thrifty Ice Cream outlets are located inside the company’s pharmacy stores, it is unlikely that it will be sold separately.
There is also a possibility that the brand will be acquired by a buyer who can supply the ice cream to grocery stores in packages like pints and quarts. Another possibility is that the brand’s production facility is taken over for other purposes. There is also the possibility that no buyers come forward, putting the brand’s future in doubt.
As for the fans of the ice cream, there’s some consolation. In addition to the Rite Aid locations that are yet to close down, the ice creams are also available for sale in the freezer aisle of Albertsons, Vons, and other retailers. They can also find Scoop counters in California, Arizona, and select locations across the U.S. and Mexico. As the brand’s cylindrical ice cream scoopers are also available for purchase, the fans can mimic the original experience by themselves.
Rite Aid, and with it, Thrifty Ice Creams, is among the latest businesses to face challenges in the post-COVID economy. The future of the company hangs in the balance, with news of the next chapter expected to be revealed soon.
