Archibald Candy to sell businesses, close Chicago plant

New York, Jan. 12 - Archibald Candy Corp. said it is in final negotiations to sell its Fannie May and Fanny Farmer businesses and expects to announce a sale agreement soon.

The Chicago-based company also said it will close its manufacturing plant in its home town.

Archibald Candy filed for Chapter 11 in June 2002 and emerged four months later.

But since then it has continued to struggle, the company said, and decided to put the businesses up for sale.

Although the company attracted "a great deal of interest," Archibald said "it became evident during the sale process that the multi-story, 70-year-old manufacturing facility on West Jackson Boulevard would not continue in operation as a candy plant, regardless of ownership, due to its age and cost inefficiencies."

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