Thursday, November 19, 2009

Brigham's Ice Cream Chain to File for Bankruptcy

A week after we reported that its shop in the Financial District of Boston closed, a local restaurant and ice cream chain is getting ready to declare bankruptcy. According to thebostonchannel.com, Brigham's Ice Cream is looking to file for bankruptcy later this week, though it is hoping to eventually emerge from bankruptcy and reopen eight of its more profitable shops.

Brigham's started in the early 20th century in the Post Office Square section of Boston's Financial District and eventually grew into a popular local chain that also sold its ice cream in supermarkets around the region. The ice cream that Brigham's sells in markets has remained popular, with its vanilla flavor being the #1 selling ice cream in the region over recent years.

[November 19 Update: According to the Boston Globe, only the Brigham's restaurants that are owned by Maryland company Deal Metrics LLC will be affected by the bankruptcy filing; the restaurants affiliated with Brigham's that have independent licensees will apparently not be affected by the filing.]

[November 20 Update: The Boston Globe mentions that the bankruptcy filing may happen as early as today. Also, a press release from HP Hood indicates that Brigham's ice cream will continue to be available in supermarkets as well as those Brigham's locations that remain in business.]

[November 24 According to the Patriot Ledger, Deal Metrics LLC has said that it is looking to file for Chapter 7 bankruptcy protection, but while this usually indicates liquidation of a company, Deal Metrics is hoping to keep some of the more profitable Brigham's restaurants open.]

For more information on Brigham's pending bankruptcy filing, please go to thebostonchannel.com link below:

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