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IGourmet Bankruptcy

IGourmet Bankruptcy - Thursday, October 22, 2009 at 5:56PM EST

Reported by: Mike Trim
Thursday, Oct 22, 2009 @ 05:56pm EDT

Another local business fell victim to the recession.

Igourmet dot com CEO Spencer Chesman saw the storm coming at the beginning of this year.

"We looked at the numbers in January and we knew that we didn't make our numbers and something pretty drastic was going to have to happen in 2009," said Chesman.

The drastic finally happened in early October when Igourmet filed for chapter 11 bankruptcy.

Igourmet sells foods like meats, cheeses and desserts.

Christmas sales make up much of the companies profits.

The 2008 season was rough so Chesman made the decision that was tough.

"There is a lot of emotion and negativity attached to the "b" word," said Chesman.

But Chesman says the "b" word doesn't mean Igourmet is closing shop.

Larger companies like GM and Chrysler filed bankruptcy with plans to reshape and come back stronger.

That's exactly what Igourmet plans to do.

"Keep pleasing our customers the way we have always in the past and operate business as usual while we're going through this process sort of behind the scenes," said Chesman.

Igourmet is still taking orders like normal.

Chesman hopes for a better holiday season with a smaller company battling the recession.

It may take a while for Igourmet's bankruptcy to be finalized.

It has to be approved in court which could take up to four months.
 


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