Overview

• Rite Aid’s May Chapter 11 filing triggered the closure of more than 500 Thrifty Ice Cream counters in its pharmacies.
• The pharmacy chain is also closing hundreds of its roughly 1,200 stores as part of its broader debt restructuring.
• Potential buyers must submit offers by May 31 for assets including the Thrifty brand and its El Monte, California, factory ahead of sale hearings in late June.
• Packaged Thrifty Ice Cream will remain available at stand-alone outlets and major grocery and drug retailers nationwide.
• Rite Aid secured nearly $2 billion in new financing to support the restructuring and plans to use asset sale proceeds to shore up its balance sheet and preserve pharmacy services.