Walgreens, the real brand, Kourtney Kardashian, is among those who value ritual aid assets, sources say

Abigail Summerville

NEW YORK (Reuters) – Pharmacy chain Walgreens and reality star are among those who have become entrepreneurs Kourtney Kardashians who have picked the rest of their assets in the ritual Aid bankruptcy.

In addition to Walgreens, Brand Management Companies Authentic Brands Group, WHP Global Brands, evaluates Rite Aid’s intellectual property and potentially loyalty programs, according to those who asked the process not to be named because it is private.

All three brand management companies purchased IPs from other retailers from bankruptcy.

Authentic Brands, who owns Reebok and Saks Fifth Avenue Investor, purchased the Fast-Fashing Chain Forever 21 and the luxurious seller Barneys IP from bankruptcy. WHP Global revived Toys “R” US after bankruptcy in 2017, while Markey acquired fashion retailer BCBG Max Azlia Group from bankruptcy.

Kardashian, co-founder of Gummy Vitamin Maker Lemme and owner of Wellness and Lifestyle’s website Poosh, has expressed interest in Rite Aid’s ice cream brand Thrifty.

Rite Aid, which operates around 1,200 stores and has around 8 million customers, filed for bankruptcy in May for the first time in two years.

US Bankruptcy Judge Michael Kaplan has already approved that he has already sold customer prescription files to 13 buyers, including CVS Health and Walgreens.

Brand management companies such as Authentic, Marquee, and WHP typically purchase brand IPs and obtain licenses from operating partners responsible for manufacturing, designing and selling.

Pharmacy Chain’s Thrifty Ice Cream brand is available for sale at the counter at certain Rite Aid locations, or in cartons from Rite Aid and other retailers across the country. Thrifty was launched in 1940 at a small factory in West Hollywood and counts several celebrities as customers, including Kardashian, who can buy the brand together with himself or with his partners, people said.

Private equity companies focusing on some consumers are also paying attention to rif or so, sources said.

Rite Aid, Walgreens, Authentic Brands, and WHP declined to comment. Representatives from the Marquee Brand and Kardashian did not respond to requests for comment.

The current bid deadline for the remaining assets is 5pm (2100 GMT) on June 18th.

Pennsylvania-based ceremonial aid has struggled amid high debt loads, inflationary pressures and increasing competition.

(Reporting by Abigail Summerville, New York, edited by Dawn Kopecki and Bill Berkrot)