It is with sadness that Thrifty Propane, Inc. and its affiliates (“Thrifty”) were forced to file a petition for relief under chapter 7 of the Bankruptcy Code with the court in Akron, Ohio on October 13, 2022. The decision to file was made by Thrifty’s management only after long and serious consideration of all of the options available to Thrifty. Thrifty was confronted with a cash flow crisis caused by several factors both internal and external, and governmental regulatory actions. Thrifty was ultimately forced to close its doors as a result of those factors.

The goal of its chapter 7 filing is to enable Thrifty’s customers to be paid through the chapter 7 process for all amounts owed to them. The chapter 7 filing is the best solution to enable Thrifty’s customers to be paid before other creditors may take Thrifty’s property to pay other debts. This is because Thrifty’s customers’ claims will have priority in a chapter 7 case that they do not have outside of bankruptcy.

Through the chapter 7 process a bankruptcy trustee will be appointed who will liquidate all of Thrifty’s assets for the benefit of its creditors and especially its customers.

Thrifty’s management appreciates and thanks all of their customers who supported them for many years.