Easter has come and gone in the Mankato, Minnesota area, which means you’ve likely got a little extra candy on hand. Perhaps you love festive chocolate bunnies, or maybe Reese’s eggs and special caramel candies are your favorite seasonal treat. Regardless, many of the items in your basket this year have something in common: they’re made by Hershey.
Although Hershey is an incredibly successful company today, their history includes times of struggle and even bankruptcy. For the company, two bankruptcy filings were their best option on the path to success. So, grab your chocolate bar and settle in for a little Hershey bankruptcy history:
Milton Hershey opened his first candy store in Philadelphia. He had no formal education, and only a few years as an apprentice to prepare him for this venture, and it was ultimately unsuccessful. His Philadelphia company could not sustain itself, so Hershey was forced to file for bankruptcy.
Following this initial bankruptcy filing, Hershey took his remaining assets to Chicago and New York. He worked hard to expand his chocolate and candy company, but despite his new efforts, Hershey was forced to file a second time.
During his third go–around, Hershey refined his products to include a new caramel recipe. When he attempted his third store, it became a smashing success. Thanks to his two bankruptcy filings, Hershey was able to start fresh with two different ventures. As they say, the third time’s the charm!
Without bankruptcy, your basket may have been empty this Easter in the Mankato, Minnesota area! It can seem frightening or daunting to file, but in many cases like Hershey’s, bankruptcy is truly the best option.
Keep your basket full this Easter season. For further inquiries about bankruptcy, contact the professionals at Behm Law Group Ltd. today.