Pinkberry clobbers TCBY, and just not enough demand for giant chocolate chip cookies:
Reuters: Cookie retailer Mrs. Fields Famous Brands LLC said on Friday it plans to file for Chapter 11 bankruptcy protection, according to a U.S. Securities and Exchange Commission filing.
The company, which also licenses and franchises the TCBY frozen yogurt chain, has begun soliciting votes from creditors for a “prepackaged” bankruptcy reorganization plan.
Under a prepackaged plan, creditors vote on certain aspects of the plan prior to the bankruptcy filing in court.
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