THRIFTY PAYLESS INC
15-15D, 1997-02-04
DRUG STORES AND PROPRIETARY STORES
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 15


Certification and Notice of Termination of Registration under Section 12(g) of
the Securities Exchange Act of 1934 or Suspension of Duty to File Reports Under
Sections 13 and 15(d) of the Securities Exchange Act of 1934.

Commission File Number            33-73592
                       ---------------------------------------------------------

                             Thrifty PayLess, Inc.
- ------------------------------------------------------------------------------- 
(Exact name of registrant as specified in its charter)

9275 S.W. Peyton Lane, Wilsonville, Oregon 97070, (503) 682-4100
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         (Address, including zip code, and telephone number, including
            area code, of registrant's principal executive offices)

12 1/4% Senior Subordinated Notes due April 15, 2001
- --------------------------------------------------------------------------------
           (Title of each class of securities covered by this Form)


                                     NONE
- -------------------------------------------------------------------------------
        (Titles of all other classes of securities for which a duty to
              file reports under section 13(a) or 15(d) remains)

     Please place an X in the box(es) to designate the appropriate rule
provision(s) relied upon to terminate or suspend the duty to file reports:

 
Rule 12g-4(a)(1)(i)     [  ]   Rule 12h-3(b)(1)(ii)    [  ]
Rule 12g-4(a)(1)(ii)    [  ]  Rule 12h-3(b)(2)(i)      [  ]
Rule 12g-4(a)(2)(i)     [  ]  Rule 12h-3(b)(2)(ii)     [  ]
Rule 12g-4(a)(2)(ii)    [  ]  Rule 15d-6               [X ]
Rule 12h-3(b)(1)(i)     [X ]

Approximate number of holders of record as of the certification or notice date:

                                      One
- --------------------------------------------------------------------------------

     Pursuant to the requirements of the Securities Exchange Act of 1934.
Thrifty PayLess, Inc. has caused this certification/notice to be signed on its
behalf by the undersigned duly authorized person.

                                        THRIFTY PAYLESS, INC.

DATE:       February 3, 1997            BY:  /s/ Elliot S. Gerson
     ---------------------------             -----------------------------------
                                            Name:   Elliot S. Gerson
                                            Title:  Senior Vice President and
                                                      Assistant Secretary


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