Major US ice cream chain to close 500 locations

Thrifty Ice Cream started life back in 1940 and quickly became something of a favorite amongst sweet treat connoisseurs in its home city of Los Angeles. Customers lined up round the block at the original West Hollywood store to try the various types of hand-scooped treats. Over the decades, the brand grew an impressive cult following, especially across California and other western states(Picture: Getty Images)

Part of what made Thrifty stand out was its signature cylindrical scoop that gave their cones a unique shape. It's also known for adventurous flavors, like Sriracha Swirl and Bacon & Cheddar. But loved for its delicious flavors like Chocolate Malted Krunch, all made in their California factory (Picture: Thrifty)

The company said: 'You can still find Thrifty ice cream in the freezer section of your favorite retailers, like Rite Aid, Albertsons, Vons and more. You can also find it at [non-Rite Aid] scoop counters across California, Arizona and a growing number of regions in the US and Mexico.' But with Rite Aid’s financial troubles, the future of Thrifty’s availability is uncertain (Picture: Alamy Stock Photo)

'With love comes longevity. Our plant in El Monte, CA, is full of familiar faces. Many of our employees have been churning out ice cream for three decades, marking each hand-crafted carton they scoop with their name. We also taste-test hundreds of new flavors every year. It’s a hard job, but somebody’s gotta do it!' the company added (Picture: Thrifty)

It's reported Rite Aid's plan is to try and sell the Thrifty brand as an asset during the Chapter 11 bankruptcy process, meaning another company could very well buy it and continue to produce and distribute the ice cream to grocery stores and existing independent scoop counters (Picture: Thrifty)

Outside of Rite Aid, Thrifty still operates some franchised scoop counters. These locations are not affected by the bankruptcy and are expected to continue operating. The hope is that with a potential new owner, Thrifty Ice Cream can keep its legacy alive (Picture: Thrifty)

Dairy Queen closures

Earlier this year, The Street also reported a Dairy Queen franchisee in Texas was forced to close about 30 locations due to a dispute with the parent company. These closures weren’t because of money problems, but because of a failure to meet specific contract terms (Picture: Getty Images)

The franchisee, Project Lonestar, was reportedly told it couldn’t order supplies after not remodelling its stores as required by the firm. 'These closures are related to closures last month by the same franchise owner,' a Dairy Queen spokesperson said. 'The closures are an isolated event, and we refrain from publicly sharing contract terms' (Picture: Getty Images)