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Wednesday, Dec 6, 2023

Crunchies Files for Bankruptcy

Crunchies Food Co. LLC has filed for Chapter 11 bankruptcy in response to what it said was a small group of investor-creditors taking hostile and aggressive actions. The Westlake Village freeze-dried snack food company said it will operate in its normal course of business during the reorganization period, and continue distributing to retailers such as Walmart, Ralphs, Whole Foods, Rite Aid and Sprouts. “Crunchies had no choice but to move with equal aggression to protect the eight years we have spent working diligently, said James Lacey, president and chief executive, in a statement. “All of this would have been seriously jeopardized in the event of a hostile takeover.” Crunchies sells organic snacks, which are Kosher, grown from non-genetically modified seeds and contain no sugar, salt or additives. The company markets its crunchy fruits with Looney Tunes characters under a licensing agreement it signed with Warner Bros. Entertainment Inc. last year, and the company also served as a main sponsor of the Amgen Tour of California in May. The bankruptcy was filed earlier this month.

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