 | |
| Company type | holding company |
|---|---|
| Industry | Retail/Pharmacy |
| Predecessor | (merger of) PayLess Drug Stores (and) Thrifty Corporation |
| Founded | April 1994 (as Thrifty PayLess Holdings, Inc.) Los Angeles, California, U.S. |
| Defunct | October 15, 1996 (as Thrifty PayLess Holdings, Inc.) Los Angeles, California, U.S. |
| Fate | Acquired by Rite Aid |
| Successors | Rite Aid |
Number of locations | 1,000+ |
Area served | California, Oregon, Washington, and Idaho |
| Services | Pharmacy, Liquor, Cosmetics, Health and Beauty Aids, General Merchandise, Snacks, 1-Hour Photo |
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States. The combined company was formed in April 1994 when Los Angeles–based TCH Corporation, the parent company of Thrifty Corporation and Thrifty Drug Stores, Inc., acquired the Kmart subsidiary PayLess Drug Stores Northwest, Inc.[1] At the time of the merger, TCH Corporation was renamed Thrifty PayLess Holdings, Inc. and Thrifty operated 495 stores, PayLess operated 543 stores.
In 1996, Rite Aid acquired 1,000 West Coast stores from Thrifty PayLess Holdings, creating a chain with over 3,500 drug stores.[2]
Thrifty PayLess, Inc. remained an active subsidiary of Rite Aid (owning stores purchased from Thrifty PayLess), as shown in the company's October 2023 Chapter 11 bankruptcy filings.[3]
- ^ White, George (December 3, 1993). "Kmart to Sell Payless Chain to THC Corp.: Merger: With $1-billion deal, Thrifty's parent firm will become the nation's second-largest drugstore retailer". Los Angeles Times.
- ^ White, George (October 15, 1996). "Rite Aid to Buy Thrifty Chain for $2.3 Billion: Retailing: More than 3,500 drugstores in 26 states would be created under the deal, the latest in the industry's consolidation trend". Los Angeles Times.
- ^ "Thrifty PayLess, Inc. Files For Bankruptcy". BKData. October 15, 2023. Retrieved October 16, 2023.