Mrs. Fields Famous Brands LLC plans to file for Chapter 11 bankruptcy protection to help restructure its business, according to a U.S. Securities and Exchange Commission filing. The company also owns TCBY frozen yogurt.
The company plans to continue doing business and has also hired Blackstone Advisory Services to explore a possible sale of TCBY.
"There are several food retailers right now that are mall-based that are under pressure," said Marti Kopacz, managing partner of the restructuring group at accounting firm Grant Thornton. "Food that is out of the home and food that is arguably discretionary is going to come under pressure when people don't feel that they've got that discretionary income in their wallets."
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For some reason, this story was popular on celebrity gossip websites. Is Debbie Fields considered a celebrity?
I was never a fan of these cookies, I prefer the Original Cookie Company. Oh no! She owns that too and Hot Sam. I haven't been to our local mall in probably a year or more, if other people are like me and shopping online, I can see why these stores are having problems.
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