Cookie retailer Mrs. Fields Famous Brands LLC said on Friday it plans to file for Chapter 11 bankruptcy protection to help restructure its business, according to a U.S. Securities and Exchange Commission filing.
. . . Restaurant and food companies have struggled this year as higher gasoline prices and rising ingredient costs have eroded sales and profits. S&A Restaurant Corp, owner of the Bennigan's and Steak & Ale chains, filed for Chapter 7 liquidation in July, while Buffets Holdings Inc, the operator of Old Country Buffet and Ryan's steakhouses, filed for Chapter 11 bankruptcy protection in January, saying customers had cut back on discretionary spending.
. . . Mrs. Fields, based in Salt Lake City, Utah, was started in 1977 by Debbi Fields, a young mother who made cookies from scratch at her first location in Palo Alto, California. The company began franchising stores in 1990 . . .
Monday, August 18, 2008
How the Cookie Crumbles
According to Reuters: