Posted on Saturday, November 5th, 2011 in Uncategorized by Nick
Dippin’ Dots, better known as the expensive future of ice-cream, has filed for bankruptcy protection at U.S. Bankruptcy Court in Paducah, Ky. Currently they owe around $12 million dollars in loans. Regions Bank, which is its largest single creditor, is owed $11.1 million and is currently in court trying to foreclose on Dippin’ Dots. That suit is pending in McCracken County Circuit Court.
Steve Heisner, director of administration for Dippin’ Dots, said Regions gave the company 48-hours’ notice that it intended to foreclose on the loans. That move forced Dippin’ Dots Inc., to file for bankruptcy while looking to refinance the debt, Heisner said.
Don’t worry though. Sales are slowly recovering for Dippin’ Dots. They reported having $27.7 million in income through September, $26.7 million in income in 2010 and $33.8 million in 2009.