Candy Retail Chain Lolli & Pops Opens Ch. 11 In Del.
Law360 (August 13, 2019, 7:15 PM EDT) -- The parent companies of California-based candy retail chain Lolli & Pops have filed for Chapter 11 protection in Delaware bankruptcy court, saying the decline of traditional retail sales has left them without the cash to pay their suppliers or landlords.
Mishti Holdings LLC and Meetha Ventures LLC filed their petition late Monday, and by Tuesday were asking the court for emergency approval of a $7 million debtor-in-possession financing package, saying last week they were locked out of eight of their remaining 69 stores nationwide because of unpaid rent.
“In the absence of the post-petition financing, the orderly reorganization of the debtors’...
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