The retail industry in the United States is facing a crisis that some are calling a “retail apocalypse,” with many brands closing stores across the country. The latest casualty appears to be Frisco Baking Company, a Los Angeles-based bakery known for its San Francisco-style sourdough bread. The company has filed for Chapter 11 bankruptcy, listing up to $10 million in assets and up to $50 million in liabilities.
The voluntary petition was filed in the U.S. Bankruptcy Court for the Central District of California in Los Angeles, as reported by TheStreet. Frisco Baking Company, which has been in business since 1941, is hoping to reorganize its operations in order to thrive once again. The bakery offers a variety of French and Italian breads in addition to their popular sourdough, and serves clients such as The Pantry and Phillippe’s. Their products are also available wholesale.
Details about the reasons behind Frisco Baking Company’s bankruptcy filing are currently limited, with more information expected to be revealed in the coming weeks. The news of their financial struggles adds to the growing list of retail businesses that are facing challenges in the current economic climate. As the company works towards reorganizing and regaining stability, industry experts will be watching closely to see how they navigate these difficult times in the competitive retail sector.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
