Just days before Halloween, national candy distributor CandyWarehouse.com has filed for Chapter 11 bankruptcy protection as it seeks to reorganize and manage mounting debt.
The Carrollton-based company filed its petition Oct. 24 in the U.S. Bankruptcy Court for the Northern District of Texas, listing nearly $224,000 in assets and $3.2 million in debts, according to court documents. The U.S. Small Business Administration is the largest debtor with more than $2 million owed, followed by Mountain BizCapital.
The filing comes at what should be the most lucrative time of year for candy sellers. Candy Warehouse, which supplies bulk sweets to consumers and retailers nationwide, reported a sharp decline in revenue earlier this year and left the company struggling to meet its financial obligations…