The ice cream of the future may not get there — at least not without some restructuring.
Dippin' Dots Inc., which sells ice cream in masses of colorful beads in malls, theme parks, movie theaters and other venues, has filed for Chapter 11 bankruptcy protection. The Kentucky company owes nearly $11 million to Regions Bank, according to court documents.
Problems at the ice cream company had been mounting over the last few years, Dippin' Dots spokesman Steve Heisner said.
"Back in 2008, during the turn in the economy, there was a slump in our company," he said. "We couldn't meet all the obligations, which put us in technical defaults."
The bank, which declined comment, sued Dippin' Dots in February, saying the ice cream manufacturer had defaulted on its debt.
Heisner said Dippin' Dots plans to continue operations while going through bankruptcy proceedings.
"We have operated this business without a line of credit for the last four years," he said. "We've operated on a cash basis, and in doing so, we have managed to grow the business.