One company has hopes of being rescued from bankruptcy if one important deal goes through. Earlier in 2012, Dippin' Dots announced its bankruptcy plans after years of declining profits. Curt Jones, who designed the unique product, announced that a group of investors in the state of Oklahoma are interested in taking over the assets of the company. This would allow the business to exit bankruptcy protection and still maintain operations as usual. The founder spoke earlier this year about the reasons for the bankruptcy, the primary two being the poor economy and a long legal battle that drained the company's financial resources.
The investors are expected to go before a federal judge in Louisville, Kentucky this month to ask for permission to take over the assets. Jones first came up with the idea for his product when he was freeze-drying frozen yogurt to be used in cattle feed. He tried the same process with ice cream and found a way to package the product to rival fellow ice cream makers. If you intend to move forward with a business bankruptcy filing, make sure you have legal counsel as the process can be daunting. To enlist help from a Houston bankruptcy attorney,
contact the Malaise Law Firm today and arrange your initial