An online candy retailer has filed for bankruptcy just days before Halloween. CandyWarehouse.com, Inc., a woman-owned Texas company, has filed for Chapter 11 bankruptcy with analysts saying consumers are becoming more health conscious and opting for sugar-free candy. The company’s petition listed only $100,000–$500,000 in assets, with liabilities ranging from $1 million to $10 million. CandyWarehouse.com, founded in 1998, has earned a large sum of its revenue from hotels, restaurants, amusement parks, and event planners. In addition to changing demands in the candy market, the costs of cocoa and sugar have risen due to inflation; a dilemma hitting other candy companies. In July, Hershey announced that its candy prices would increase between 10-20 percent due to inflationary costs. Party City Holdco Inc. has closed the majority of its stores following its bankruptcy filings in January 2023 and again in December 2024. A hearing set on October 29 will decide whether the candy retailer will continue operating.
Read it at The Independent
