Thrifty PayLess

Thrifty PayLess 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 Northwest, Inc.

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.