In sad news for cookie-lovers everywhere, Mrs. Fields Famous Brands, known as a little-old lady started cookie company, is filing for chapter 11 bankruptcy protection.
The cookie chain has been ailing since at least early 2007, when it started selling off assets and going through several rounds of layoffs.
According to the NY Times, the company licenses and franchises about 1,200 Mrs. Fields cookies and TCBY locations worldwide. Also, they apparently have $196 million in publicly-traded debt. Apparently cookies and frozen yogurt are really, really, really, really expensive to make.
The company is curerntly in negotiations with its creditors and the SEC to try and figure out some way to restructure the business. Perhaps America has just lost it’s taste for delicious cookies?
Story via Serious Eats and the NY Times, photo by Jeremy Brooks
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