Mrs. Fields' pre-packaged plan approved by all but two voting creditors

By Caroline Salls

Pittsburgh, Sept. 22 - Mrs. Fields' Original Cookies, Inc.'s pre-packaged plan of reorganization was accepted by all but two voting creditors, according to a Saturday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the one holder of the company's MFOC note and all of the holders of its equity interests voted to accept the plan.

In addition, 153 holders, or 98.71% in number, of $184.29 million, or 99.96% in amount, of secured note claims voted to accept the plan, while two holders, or 1.29% in number, of $67,000, or 0.04% in amount, of these claims voted to reject it.

The combined plan confirmation and disclosure statement approval hearing is scheduled for Oct. 2.

Mrs. Fields, based in Salt Lake City, has 2,100 franchised and licensed concept locations worldwide. Its subsidiaries include franchisors of the Mrs. Fields Cookies and TCBY franchise systems. The company filed for bankruptcy on Aug. 24, and its Chapter 11 case number is 08-11953.

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