Iconic Chicago Candy Company Files For Bankruptcy

CHICAGO — Old-school Chicago candymaker Primrose Candy Co. filed for bankruptcy last week, according to legal documents.

The company filed Jan. 27 for Chapter 11 bankruptcy in the U.S. Bankruptcy Court of the Northern District of Illinois, court records show.

Founded in 1928 by Frank Puch and rooted in old-world confectionery traditions, Primrose Candy Co. is located on Chicago's northwest side and makes hard candy, caramel, taffy, popcorn and more for retail, bulk and private brands, according to its website.

The company in legal documents disclosed it had between 100 and 199 creditors, between about $1 million and $10 million in assets, and between roughly $10 million and $50 million in liabilities.

The Chicago Tribune reported the company's debts came out to more than $12 million, with Primrose Candy Co.'s attorney, David Welch, citing the rising cost of candymaking, according to the newspaper.

The company's biggest creditor is listed in legal documents as Labor Solutions LLC of Prospect Heights, to which it owes $7.5 million. The Tribune reported that the staffing agency sued Primrose Candy Co. in September for breach of contract.

Welch told the newspaper his client is hoping “to confirm a plan of reorganization” in the coming months.

“What we have is a lot of old, old debt that we just can’t afford to pay in its entirety,” he told the Tribune.