Mrs. Fields Bankrupt

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.

See Also: Frozen Yogurt Chain Pinkberry Narrowly Dodges Racism Scandal

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.