Somehow, I wonder if these two stories are connected:
- Mrs. Fields Cookies To File For Chapter 11. The company, which licenses and franchises about 1,200 Mrs. Fields Cookies and TCBY frozen yogurt locations worldwide, has begun soliciting votes from creditors for a “prepackaged” bankruptcy reorganization plan. Mrs. Fields was started in 1977 by Debbi Fields. The company began franchising stores in 1990 and in 2000 it gained control of TCBY. In two separate transactions since 2007, the company sold its Pretzel Time, Pretzelmaker and Great American Cookies brands to NexCen Brands for more than $100 million in cash and stock. In other chocolate retailing news, Papa John’s has introduced a chocolate pastry. Just the thing to go with pepperoni. After all, we know it’s good with bacon.
- Hershey Is Raising Prices 11%. On Friday, Hershey said it is raising prices on its products by an average of 11% as it tries to stem the impact of soaring commodities costs. Cadbury chocolates are also shrinking for the same reason.