For more than 80 years, Thrifty Ice Cream has been a cherished American favorite, celebrated for its inventive flavors and signature cylinder-shaped scoops. But the future of this iconic brand now hangs in the balance. Rite Aid, the pharmacy chain that owns Thrifty Ice Cream, filed for Chapter 11 bankruptcy last month—its second filing in two years—prompting the closure of more than 500 Thrifty Ice Cream locations nationwide. This development not only affects the availability of Thrifty’s nostalgic flavors, but also leaves many to wonder if the final scoop will soon be served.
The Sweet Story Behind Thrifty Ice Cream’s 80-Year-Old Legacy
The connection between drugstores and ice cream runs deep, a nostalgic pairing that dates back generations. Many pharmacies once boasted their own ice cream counters, and Rite Aid stood out, eventually owning its own brand: Thrifty Ice Cream.
Thrifty Ice Cream’s journey began in 1940 at a modest factory in West Hollywood. “Thrifty Ice Cream was launched in 1940 at a small factory in West Hollywood. Angelenos soon flocked to the flagship Thrifty Drug Store in downtown Los Angeles to sample ice cream from the soda fountain. The high-quality, small-batch ice cream even snagged awards from the L.A. County Fair. By the 1970s, Thrifty ice cream had attained cult status along the West Coast, with significant celebrity shoutouts,” as shared on the brand’s website.
Thrifty Ice Cream is particularly recognized for two unique aspects. First, it has a patented scoop, which produces a signature square-shaped ice cream cone. Second, the company has built a reputation for its commitment to flavor innovation.
This dedication to quality and creativity is rooted in the brand’s long-standing team. “With love comes longevity. Our plant in El Monte, CA, is full of familiar faces. Many of our employees have been churning out ice cream for three decades, marking each hand-crafted carton they scoop with their name. We also taste-test hundreds of new flavors every year. It’s a hard job, but somebody’s gotta do it! Our team can even make exclusive, custom flavors like Sriracha Swirl and Bacon & Cheddar,” the brand stated.
Now owned by Rite Aid, Thrifty Ice Cream continues to dish out scoops at select pharmacy locations, preserving the nostalgic charm of the old-fashioned ice cream counter for generations of loyal fans. But that tradition may soon melt away, as more Rite Aid stores are expected to shutter following its April bankruptcy filing.
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Thrifty Ice Cream’s Future in Limbo as Rite Aid Closes 500 Locations
The future of Thrifty Ice Cream hangs in the balance as its parent company, Rite Aid, navigates bankruptcy. The roughly 500 Thrifty Ice Cream counters located inside Rite Aid pharmacies are all slated for closure as part of the drugstore chain’s shutdown. Since these counters are an integral part of the pharmacies, they cannot be sold as separate assets.
However, Thrifty Ice Cream’s reach extends beyond Rite Aid’s in-store counters. “You can find Thrifty ice cream in the freezer section of your favorite retailers, like Rite Aid, Albertsons, Vons, and more. You can also find it at scoop counters across California, Arizona, and a growing number of regions in the U.S. and Mexico,” the company notes. This means that even with the Rite Aid closures, Thrifty Ice Cream is still available in other retail freezers and at independent, franchised scoop counters not owned by Rite Aid.
The fate of the entire Thrifty Ice Cream brand now rests on its sale as an asset in Rite Aid’s Chapter 11 bankruptcy proceedings. A potential buyer could acquire the brand and continue its operations, focusing on selling packaged ice cream to grocery chains and supplying the existing non-Rite Aid scoop counters. It’s also conceivable that a buyer might purchase the El Monte factory for entirely different purposes, perhaps to produce their own ice cream or even unrelated products. Of course, there’s always the possibility that no buyer will emerge, leaving the brand’s future completely uncertain.
While the closure of hundreds of locations marks a significant setback, the fate of Thrifty Ice Cream as a brand is still undecided. Survival is possible, but far from assured.
Source: TheStreet