The story
Founded by Debbi Fields in 1977, in Palo Alto.1
History
Mrs. Fields Cookies was founded by Debbi Fields in the late 1970s. She and her husband Randy opened their first of many stores in 1977 in Palo Alto, California, selling homemade-style cookies which quickly grew in popularity. Stalls were located in many U.S. airports and shopping malls. In 1982, they moved their headquarters to Park City, Utah. In the early 1990s, the company was sold to an investment firm.
During the 1980s and 90s, the company acquired several other brands, including The Famous Chocolate Chip Cookie Company, The Original Cookie Company, Great American Cookies, Pretzel Time, Pretzelmaker, Hot Sam Pretzel Bakery, and TCBY. All Hot Sam’s stores were converted to Pretzel Time and Great American Cookies, Pretzel Time and Pretzelmaker were later sold to Nexcen Franchise Management leaving only Mrs. Fields’ Cookies and TCBY as the portfolios brands.
In 2007, Mrs. Fields celebrated its 30th anniversary with a national search for a new cookie. Chandler, Arizona, resident Carrie Lawrence's recipe for "Oatmeal Peanut Butter Scotchies" was chosen over 700 other recipe entries as Mrs. Fields' 30th Anniversary Cookie in August 2007.
In May 2012, Mrs. Fields announced it was moving its headquarters to the Denver area in Colorado. According to then CEO Tim Casey, the move was because "Many casual/quick service franchise companies were launched from and are based in Denver, making it an ideal environment for idea sharing."
The company acquired long-standing licensee Maxfield Candy and high-quality nut, dried fruit, and popcorn brand Nutty Guys in Salt Lake City, Utah, on December 24, 2014.
Financial history
In 2007, Nexcen Brands, Inc. purchased the Pretzel Time and Pretzelmaker brands from Mrs. Fields Famous Brands. Great American Cookies was then sold to Nexcen in February 2008. Mrs. Fields experienced layoffs due to restructuring caused by sale of these brands.
In 2008, Mrs. Fields attempted to restructure their debt to bondholders before filing for Chapter 11 protection.
Mrs. Fields avoided another bankruptcy in 2011 by agreeing to cede control of the company to its creditors, Z Capital Partners and Carlyle. Z Capital Partners became the sole owner of Mrs. Fields in 2013. Mrs. Fields promoted Neil Courtney from COO to CEO.
From Wikipedia’s article on Mrs. Fields, shared under CC BY-SA 4.0.4