Newsline: Americana Foods Defaults
November 1, 2006
TORONTO-CoolBrands International Inc. says the lenders to Americana Foods, L.P. CoolBrands' 50.1% owned joint venture facility based in Dallas, have advised Americana that, on account of the existing defaults under its credit facilities, the lenders are no longer willing to lend funds. CoolBrands has authorized its subsidiaries to file for bankruptcy. CoolBrands also says Frank Orfanello has resigned as executive v.p.