DES MOINES, WASH. — Partners Crackers on Jan. 18 filed for voluntary Chapter 11 safety within the US Bankruptcy Court for the Western District of (*11*), citing a have to restructure its secured monetary obligations.
Partners produces about 11 million crackers every day at its 150,000 square-foot plant in Des Moines, an expanded facility to which the corporate moved in 2017. Producing 4 manufacturers (Partners Crackers, Blue Star Farms, Wisecrackers and All-American) with all kinds of cracker sizes, flavors and elements, Partners employs greater than 90 individuals and sells in all 50 states and the world over. The firm additionally bakes cookies and different baked meals.
Partners mentioned the choice to file for safety is a chance to strengthen its long-term sustainability and comes on the heels of file gross sales in 2020 and 2021. In the submitting, Partners mentioned it had gross revenues of $18.28 million in 2021, $11.7 million in 2020 and $8.16 million in 2019. Also within the submitting, Partners listed 63 collectors, estimated property of $25.98 million and estimated liabilities of $17.3 million.
The firm expects enterprise operations to proceed as typical.
“As a second-generation family-owned business, we care deeply about our people, our community and our product,” said Greg Maestretti, chief operating officer of Partners. “We are grateful for the support and partnership that is the foundation of our continued success.”
The announcement comes 4 months after thepassingof the corporate’s founder, Marian Harris. Ms. Harris developed her personal crackers and, realizing how in style they’d turn into, set off to begin a brand new enterprise promoting her crackers that the corporate describes as an ideal “partner” for any meals. That’s how Partners Crackers was born in 1992.