While Rite Aid has been closing its hundreds of stores in its second bankruptcy filing within two years, its devoted fans of its legendary Thrifty Ice Cream brand are concerned that they would be losing a cultural institution. The chain pharmacy that bought Thrifty Ice Cream in 1996 closed more than 50% of its stores since 2023, depriving neighborhoods—especially those in California—of quick access to the old-time ice cream counters that have been serving up low-priced scoops for decades. Without any publicly stated vision for the future of the brand, devoted followers worry that this may be the beginning of the beginning of the end for an institution long ingrained in local culture.
The birth of frugal ice cream: A California institution
Thrifty Ice Cream’s origin dates back to 1940, when it was introduced in a small plant in West Hollywood and soon became synonymous with a presence at Thrifty Drug Store soda fountain counters. Its cone-shaped scoops and affordable pricing—only five cents a serving until 1975—made the product an icon of Southern California’s carefree lifestyle. By the 1970s, Thrifties such as Chocolate Malted Krunch and Rainbow Sherbet had gained cult status, with locals and Hollywood stars waiting in line outside its counters. Rite Aid’s purchase of Thrifty PayLess Inc. in 1996 brought the popularity of the ice cream to more than 500 stores, but its heart remained rooted in California, where families through generations equated summer with a Thrifty cone.
Rite Aid’s fall and the domino effect
Rite Aid’s own financial woes, decreasing prescription profitability, opioid settlement lawsuits, and online shopping competition for pharmacy locations have fueled aggressive store closures. The chain filed Chapter 11 bankruptcy in May 2025, announcing still another 300 closures beyond the 44 it closed in August 2024. These reductions cut Rite Aid’s store count in half since 2023, disproportionately affecting rural communities where the next-closest pharmacy—and Thrifty counter—may be miles away. For example, one of the August 2024 closings was a Los Angeles location at 3550 S La Brea Ave, a key entry point in the city where the brand began.
Cultural loss and community concerns
For Californians, Thrifty Ice Cream is more than an indulgence—once a sweet ride of nostalgia. Social media exploded in eulogies and dismay as the last remaining sites become destinations for fans who throng them. “It’s part of my childhood,” one X post mourned, attitudes echoed throughout forums. The price—still under $3 per scoop—has also positioned it as an occasional treat within reach as prices increase, giving the emotional wallop of potential loss.
The closings vow to destroy a singular retail heritage: While contemporary ice cream parlors are mechanized and sleek, Thrifty counters evoke a retro charm, with staff hand-scooping flavors into classic cylindrical containers. This ceremony, paired with small-batch manufacturing techniques performed since the 1940s, makes it difficult to replicate the experience elsewhere.
Uncertain future and preservation efforts
Though Rite Aid has sold its pharmacy business to rivals CVS and Walgreens, the future of Thrifty Ice Cream is in limbo. The company’s own in-house manufacturing plant in El Monte, California, remains operational, but fewer stores compound distribution problems. Sale or licensing arrangements have been mooted as a means of salvaging the brand, but there have been no such announcements to date. Grass-roots efforts, such as petitioning and “Save Thrifty Ice Cream” Facebook entries, bear witness to consumer intent to save the brand, but corporate plans to reorganize need not be swayed by such protestations.
While Rite Aid’s bankruptcy epic remains ongoing, time is running out for Thrifty Ice Cream aficionados. The death would be more than dessert—eliminating a bit of local heritage and social gathering places. As much hope is brought by the brand’s viability since 1940, its survival is likely dependent upon some wise move on the part of investors or retro consumers who will place a price on culture and not solely on profit. Meanwhile, die-hards hold on to dwindling counters, tasting every scoop as if it would be the last.
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