Thursday, October 16, 2008
Goodbye Archway
The food industry is seeing some of the fallout of the credit meltdown: the Archway & Mother’s Cookie Co. declared bankruptcy and is ceasing operations. Owned by private equity firm Catterton Partners, it sounds as though some financing the company depended on suddenly fell through. With the companies go such brands as Archway Oatmeal Cookies, Circus Animal Cookies, Salerno Butter Cookies, and, my personal favorite, the Archway Dutch chocolate cookies. The bankruptcy filing lists assets of $50 million and liabilities of $500 million. Unfortunately, that's the way the cookie crumbles.
Labels: bankruptcy, finance, news
