Legally they are "Thrifty Payless" out west for licensing purposes (maybe even employee payroll in some cases) but the trade name for retail pharmacy "Payless Drug" was sold to that other party. At the time it was sold, the stores had a lot of signs, carts, etc. that still said Payless and they were given orders to paint over/cover up anything that said Payless. But those orders were not followed 100% specifically on Halloween when some long term Rite Aid employees may pull out their old gray and pink Payless smocks. Rite Aid no longer has that trade name "Payless Drug." They cannot operate a store or pharmacy with the name "Payless Drug."SO_CAL_RETAIL_SLUT wrote: ↑September 26th, 2023, 9:54 amAt least in California, both the trade names "Thrifty" and "Payless" are used as "Thrifty Payless, Inc.". Their California pharmacy licenses at some locations is also filed as "Thrifty Payless, Inc." This way, at least in California, RAD has kept the use of the "Thrifty" and "Payless" trademark and brand names in use - and from being taken by another entity.storewanderer wrote: ↑September 26th, 2023, 12:07 am Rite Aid sold the Payless name to some independent mail order pharmacy in Oregon. It appears they have merged a couple times. https://www.linkedin.com/company/payles ... c-pharmacy
So I don't think they or any buyer of stores could immediately use that name.
Thrifty name is pretty connected to the ice cream and I expect that name to basically be sold with the ice cream and also not available to be put onto stores (unless whoever buys the ice cream is the same group who buys the stores).
Based on these creditors/bondholders it is probably all a moot point anyway.
Someone could make an argument/case that "Thrifty Payless" trademark is not in "active" use. What saves RAD from losing the "Thrifty Payless" trade name is that certain pharmacies in California, the license is posted and displayed as "Thrifty Payless, Inc". As long as the trademark/brand name is actively being used/displayed - it belongs to RAD. No matter how small the print, as long as the "Thrifty Payless" name is displayed - in this case on their PharmD licenses that are on display, RAD keeps use of the "Thrifty Payless" name and case closed. For legal purposes, it could even be used on one shopping cart or a display, hence the "Thrifty" trademark used for ice cream. FedEx keeps their "Kinko's" trade name alive by slapping the "Kinko's" logo and brand name on every self-service copy machine located within their FedEx Office locations.
RAD has spread the locations using the "Thrifty Payless" trade name throughout the state, from San Diego to Eureka to Susanville and even little Palo Cedro.
Union bargaining agreements have also kept the "Thrifty Payless" name in use.
As far as my suggestion to keep "Thrifty", "Thrifty Drugs" and "Thrifty Ice Cream" and not use "Payless" still stands. I am certain that as much as I and others would like, "Thrifty" will not be coming back as a name of a drug/general merchandise store - but if the ever small chance the west coast stores remain, then use Thrifty Drugs.
Tell me again why RAD spent money to move from cheap rent Camp Hill to Philadelphia? Why Philly? It has the worst airport terminal of any big airline hub, the second worst is Charlotte - both American! I still think it's funny that in the RAD press release, RAD puffed it's chest about "collaborating" between Bartell Drugs, Elixir and Thrifty Ice Cream...lol
Current share price: Just a tad over a .40c a share, or a value of $21.6 million based on outstanding shares.
Now I wonder if a store or pharmacy could be operated using the name "Thrifty Payless."
The HQ in Philadelphia is tiny, and the new corporate address on private label products is in Etters, PA (whatever that is). They shifted to a fully remote corporate workforce. I am not sure how often the previous CEO was in PA; my understanding is the previous CEO was positioned somewhere around Virginia Beach. Many employees at Camp Hill were there for decades and went through a lot. I am always suspicious of management who come in and relocate headquarters and either displace or cause to move (displacing or in this place "moving to remote") a bunch of loyal long term corporate staff.