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Author Topic: Cookie Maker Mrs. Fields Files for Chapter 11  (Read 3034 times)

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Offline bijou

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Cookie Maker Mrs. Fields Files for Chapter 11
« on: August 16, 2008, 03:51:14 AM »

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The struggling privately owned Mrs. Fields Famous Brands, owner of the famous mall-based cookie stands and TCBY yogurt stores, said Friday it plans to file for Chapter 11 bankruptcy reorganization, according to a filing with the Securities & Exchange Commission.

Mrs. Fields is plagued with $200 million in debt, a slowing economy where consumers have cut back on discretionary purchases and record-high dairy and ingredient prices. The company also saw the resignation of its Chief Executive Officer Stephen Russo late last month.

The company, in their most recent SEC earnings filing, reported a net loss of $10.7 million last quarter, compared with a loss of $1.4 million in the same period last year. Because the company is privately held, it doesn’t report a profit or loss on a per-share basis.

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http://www.foxbusiness.com/furl/story/markets/industries/retail/cookie-maker-mrs-fields-files-chapter/
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Offline Lord Undies

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #1 on: August 16, 2008, 07:53:45 AM »
What does one say?  That's the way the cookie crumbles?

I haven't seen a Mrs. Field's or a TCBY in years.   
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Offline jtyangel

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #2 on: August 16, 2008, 09:00:35 AM »
Neither have I, but I worked in one when I was a teenager. A long loooonnng time ago :bawl: :-)
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Offline Lord Undies

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #3 on: August 16, 2008, 09:01:25 AM »
Quote from: jtyangel on August 16, 2008, 09:00:35 AM
Neither have I, but I worked in one when I was a teenager. A long loooonnng time ago :bawl: :-)

They had cookies back then?   :o
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Offline Inga

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #4 on: August 16, 2008, 10:11:35 AM »
I too, haven't seen a Mrs. Fields or a TCBY in about 5 Years. Greatly missed. 

But looking a around town we'll be seeing a lot more businesses close. We have 3 of them filing Chapter 11 and or trying to sell out. The owner where I work is trying to sell out. Hold on it's going to be a bumpy ride.
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Offline Lord Undies

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #5 on: August 16, 2008, 10:16:01 AM »
Quote from: BTaylor on August 16, 2008, 10:11:35 AM
I too, haven't seen a Mrs. Fields or a TCBY in about 5 Years. Greatly missed. 

But looking a around town we'll be seeing a lot more businesses close. We have 3 of them filing Chapter 11 and or trying to sell out. The owner where I work is trying to sell out. Hold on it's going to be a bumpy ride.

Come to Texas.  Nothing has changed.  Places go in and out of business all the time. 
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Offline jtyangel

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #6 on: August 16, 2008, 10:57:02 AM »
Quote from: Lord Undies on August 16, 2008, 09:01:25 AM
Quote from: jtyangel on August 16, 2008, 09:00:35 AM
Neither have I, but I worked in one when I was a teenager. A long loooonnng time ago :bawl: :-)

They had cookies back then?   :o

Yeah, I think they predate me by a few years at least...you though, I'm not so sure.  :tongue: :-*
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Offline Lord Undies

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #7 on: August 16, 2008, 11:34:30 AM »
Quote from: jtyangel on August 16, 2008, 10:57:02 AM
Quote from: Lord Undies on August 16, 2008, 09:01:25 AM
Quote from: jtyangel on August 16, 2008, 09:00:35 AM
Neither have I, but I worked in one when I was a teenager. A long loooonnng time ago :bawl: :-)

They had cookies back then?   :o

Yeah, I think they predate me by a few years at least...you though, I'm not so sure.  :tongue: :-*

We had them, but we didn't know what to call them.  My friends and me, we called them sweet wheels.  Our mamas called them shortcakes.  My dad called them crankers cuz he said they gave him the energy to start the horseless.
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Offline DixieBelle

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #8 on: August 16, 2008, 11:43:18 AM »
Businesses close and open all of the time. That's just the free market talking.

Although you have to wonder how a company that's been around for a while and previously made millions, didn't adjust for the tougher times ahead. The price of milk, flour and fuel didn't skyrocket overnight. I expect new companies without a proven track record to fold. Multi-million dollar business? It's always more complex than a downturned market. I bet their accounting books are a treasure trove.
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Offline jtyangel

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #9 on: August 16, 2008, 03:18:03 PM »
Quote from: DixieBelle on August 16, 2008, 11:43:18 AM
Businesses close and open all of the time. That's just the free market talking.

Although you have to wonder how a company that's been around for a while and previously made millions, didn't adjust for the tougher times ahead. The price of milk, flour and fuel didn't skyrocket overnight. I expect new companies without a proven track record to fold. Multi-million dollar business? It's always more complex than a downturned market. I bet their accounting books are a treasure trove.

Many companies like Mrs. Fields failed to adjust to multiple setbacks. First she probably was hit by the low/no carb craze when people stayed away from anything with simple carbs like a cookie and then was hit with a time where people aren't interested in spending money like they used to. Personally, I think it's got to be difficult to be inside of a mall in most cities in America too. If that's her primary place of business still then its been declining their for years. When I worked in the mall as a teen it was when it was still very busy in the 80's and one could find every teenager, practically, hanging out there after school and on the weekends and blowing money on things like cookies, pizza, and drinks.
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Offline DixieBelle

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #10 on: August 16, 2008, 04:10:59 PM »
When I walk around our local malls, I do have to wonder how some of the specialty stores stay in business. Especially when you can google and click your way to the same stuff and have it drop shipped to your front door.
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I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
-------------------------------------------------

No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Zeus

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Re: Cookie Maker Mrs. Fields Files for Chapter 11
« Reply #11 on: August 16, 2008, 04:58:21 PM »
The lil burg I live in has went from a population of approx 22k in '92 to a current pop. of approx 35K. HEB, Walmart and walgreens all have superstores here. Been about 4 hotels built, a new Library, 9 holes added to the Golf course, A new main Fire station,about 6 new schools and  a new Cop shop currently underway.

This is called a quiet little town .
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