The assets may be frozen, but there is a possibility the brand may not be down the drain. Yarnell’s Ice Cream, the Searcy, Arkansas, dairy company has filed for Chapter-7 bankruptcy but has indicated the name and product could survive.
As reported in June, Yarnell’s ceased production in the face of rising costs and a stagnant economy.
In papers filed with the US Bankruptcy Court, the ice cream company indicates that there are offers being considered that could come into play regarding the $8-million in assets and liabilities that total more than $15-million.
Yarnell’s sold its inventory to Walmart following the shutdown in June, and reportedly has received offers for recipes and the Yarnell tradename. Among the offers are several that would allow the operation in Searcy to restart, but company officials say the terms of their current filing do not allow them to comment.