Popular ice cream chain to close 500 stores
Thrifty Ice Cream locations are closing nationwide.
The ice cream counter was a staple inside of Rite Aid locations. In early May, Rite Aid announced it was filing for bankruptcy for a second time as it looked for a buyer.
According to The Street, the 500 hand-scooped ice cream counters inside Rite Aid are set to close. Since these locations are inside the Rite Aid pharmacies, they can’t be sold as a separate asset, The Street reports.
Newsweek reports the ice cream brand, which launched in 1940, can be found at thousands of retailers and stand-alone locations across the U.S. Rite Aid acquired the brand in 1996 and the ice cream became a staple at its West Coast pharmacies.
In a press release, Rite Aid announced it has filed for Chapter 11 bankruptcy and will sell its remaining stores. It has secured some $1.94 billion in new financing to allow locations to remain open during the sales process. The chain hasn’t officially announced the closing of any locations but other reports show shutdowns, including all 178 Rite Aid locations in New York.
“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 acquirers,” said Matt Schroeder, the Chief Executive Officer of Rite Aid, in the same release.