Freeze Hits Local Pinkberrys as Franchisee Files for Chapter 7
By • January 29, 2015 0 1020
According to court records uncovered by the Washington Business Journal, the local franchisee for local Pinkberry frozen yogurt shops has filed for Chapter 7 bankruptcy.
The future of Pinkberry Mid-Atlantic LLC’s frozen yogurt outlets in the area, including shops in Georgetown, Dupont, Arlington, Fairfax, Tysons Corner and National Harbor, is in question and a Pinkberry store in Leesburg closed in 2014.
In court documents, the company lists debts at over $1.2 million and assets at around $820,000. Mid-atlantic banking behemoth BB&T is the largest creditor, with claims upwards of $500,000. Pinkberry also owes tens of thousands of dollars to Sysco Food Services and area utilities. The company also owes close to $100,000 to Arlington County and Virginia state each in back taxes.
The Chapter 7 filing could mark the end of D.C.’s expanding frozen yogurt trend, which began with a bang including an onslaught of openings 2009 and 2010 but has since petered out. Pinkberry arrived in D.C. in 2010.
