Bakers Journal

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Mrs. Fields emerges from bankruptcy


October 27, 2008
By FoodBusinessNews.net

Oct. 27, 2008, Salt Lake City, Utah – Mrs. Fields’
Original Cookies Inc. announced it has emerged from Chapter 11
bankruptcy "with an improved balance sheet, a good working capital
position, and new ownership." The company filed for Chapter 11 in
mid-August.

Oct. 27, 2008, SALT LAKE CITY, UTAH – Mrs. Fields’
Original Cookies Inc. announced it has emerged from Chapter 11
bankruptcy "with an improved balance sheet, a good working capital
position, and new ownership." The company filed for Chapter 11 in
mid-August.

"The prepackaged bankruptcy
filing was the perfect means to complete the company’s reorganization,"
said Michael Ward, interim co-chief executive officer. "Within 60 days
of filing the Chapter 11 petition, we were able to significantly
de-lever the company’s balance sheet, establish a credit facility to
support our working capital needs, and emerge from bankruptcy fully
capable of meeting and exceeding customer expectations."
| FULL STORY

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