gibson upright freezer. compressor wont quit running

Gibson freezer freezes good, compressor wont quit running, when you turn off the thermostat, it shuts off, when you turn it back on, it takes several minutes for it to come back on, could this possibly be the thermostat that needs to be replaced? Or something more expensive? Dont want to sink alot of money into it as it is 20 years old. Thanks

sounds as if cold control-thermostat is malfunctioning