A Chapter 11 bankruptcy filing will allow them to pay off their creditors and keep making taffy.
James Candy Co., the Atlantic City-based makers of Jersey Shore staples Fralinger’s and James’ salt water taffy, will continue business as usual. Slipping sales forced the company to file bankruptcy Nov. 7.
The company will be able to reorganize, pay its creditors, and stay open. Customers will see no interruption in order fulfillments.
“The combination of reduced Atlantic City visitors and boardwalk foot traffic since 2006, the under-performance of 2018 summer sales along the New Jersey seashore and the continuing increased cost of business operations has impacted our efforts to remain a profitable business. Over the last several years we have worked very hard to transform our business and cut costs. While these efforts made great strides, the plan was not able to deliver the results the company needed. The process of Chapter 11 will give JCC the ability to strengthen its operations and balance sheet, EBITDA and return to a profitable position. We have already begun to work with creditors, vendors and other business partners to maintain service to our customers,” said Frank J. Glaser, President and CEO.
The company, founded in the 1880s, has 11 locations in Atlantic City, Wildwood, Cape May, Ocean City. They operate the taffy stores as well as Bayard’s Chocolates in Cherry Hill and Cinnaminson.
