Remember Dippin' Dots - the ice cream of the future? It seems things arent going so well in the future. The company filed for Chapter 11 reorganization today, Bloomberg reports.
The company asked U.S. Bankruptcy Judge Thomas H. Fulton to let it use cash held as collateral for an $11 million loan from Regions Bank of St. Louis. Without using the collateral, Dippin' Dots "will have no ability to operate," the company said in court papers. It didn't file an explanation of the bankruptcy.
Hey, what are dippin' dots anyway? Here's an explanation from the website:
Jones, a microbiologist, pioneered the process of cryogenic encapsulation...a scientific way of saying he used super-cold freezing (read liquid nitrogen) methods to make little beads of ice cream. Not only were the ice cream beads delicious and fun to eat, Jones knew that flash-freezing the ice cream ingredients would lock in flavor and freshness. With those qualities established, Dippin' Dots were ready to take on the world!
