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Mrs Fields files for Chapter 11

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Written by Hugh McManus

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The struggling mall-based cookie chain, Mrs. Fields, has announced plans to file for bankruptcy.  The privately held company stated that it would seek protection from its creditors under Chapter 11 of the US bankruptcy code.   The company faces both increasing costs and a reduction in consumer concessionary spending, which has caused a loss of $10.7 million in the most recent quarter.  The company carries about $200 million in debt. Mrs. Fields was founded in the late 1970s and has grown, through a franchise model, to almost 1,200 stores.   < Prev   Next >