Mrs. Fields says it will file for Chapter 11 bankrputcy protection. The company has more than 1,200 franchises across the country and is best known for its cookies. The chain also includes TCBY frozen yogurt.
Mrs. Fields’s Co-Chief Executive Michael R. Ward has confirmed the company will file a prepackaged bankruptcy reorganization plan with the U.S. Bankruptcy Court in Wilmington, Del.
The company posted a net loss of $10.7 million last quarter.
Source: http://online.wsj.com/article/SB121883327656645413.html?mod=googlenews_wsj