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In 2023, Rite Aid filed for Chapter 11 bankruptcy. [3] Despite Thrifty PayLess shutting down 27 years prior to Rite Aid's bankruptcy filing, Thrifty PayLess was still listed in the filing. [4]
In 1996, Rite Aid acquired Thrifty PayLess, a 1,000-store West Coast chain. The acquisition of Thrifty PayLess included the Northwest -based Bi-Mart membership discount stores, which was sold off in 1998.
Bi-Mart: Bi-Mart's parent company, Thrifty PayLess was sold to Rite Aid in October 1996 for $1.3 billion. [31] Rite Aid sold Bi-Mart to Endeavour Capital in 1997. [32] By 2004, Endeavour Capital transferred ownership of the company to its employees through an employee stock ownership plan. [32]
Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing.
Dozens of Thrifty Ice Cream counters — famed for affordable ice cream and cylindrical scoopers — are closing in California as Rite Aid files for bankruptcy. What will become of the iconic brand?
After filing for bankruptcy last week, Rite Aid is expected to shutter more than 150 stores across the U.S. — including dozens in Pennsylvania.
L.J. Skaggs retained California Pay Less Stores, which became part of Thrifty PayLess, and which are now owned by Rite Aid. The remaining Pay-Less stores were renamed Skaggs Drug Stores in 1948, Skaggs Drug Centers in 1965.
In April 1996, Thrifty Payless went public and then in October 1996, it was sold to Rite Aid for $2.3 billion netting Green's firm a $420 million profit. [4] Other companies that the firm acquired while Green was chairman were Carr-Gottstein Foods Co., Australian Resources Limited, and Big 5 Sporting Goods.
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759 Neil Avenue, Columbus, OH · Directions · (614) 224-9275
"GoodRx app has saved consumers $10 billion." - Fox Business