It'll be business as usual for Mrs. Fields Famous Brands LLC. The Salt
Lake City cookie and frozen yogurt maker received the go-ahead to finalize its prepackaged reorganization
plan during the first day's
motions of its Chapter 11 bankruptcy court proceedings.
The company was authorized to access $90 million in previously
restricted deal proceeds to fund business operations so that it can continue
to pay employee salaries, wages and benefit programs, as well as pay vendors and
maintain uninterrupted delivery of products and services
throughout the Chapter 11 process, according to the press release.
Mrs. Fields filed a bankruptcy petition Sunday. It hopes to emerge from Chapter 11 within 45 days. - Maria Woehr
Business as usual means losing money and needing yet another restructuring?