Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Cookie maker and online retailer Mrs. Fields’ Original Cookies Inc. has appointed co-CEOs John Lauck and Michael Ward to guide the company’s post-bankruptcy future.
Cookie maker and online retailer Mrs. Fields’ Original Cookies Inc. has appointed co-CEOs to guide the company’s post-bankruptcy future.
Mrs. Fields, No. 397 in the Internet Retailer Top 500 Guide, has named John Lauck and Michael Ward as joint top executives each in charge of certain operating areas. Lauck will be in charge of franchising, gifting, branded retail, licensing, the TCBY business unit and new product development and marketing. Prior to his new duties, Lauck was president of the Mrs. Fields division and had served as chief marketing officer.
Ward will retain his role as secretary and chief legal officer and also will be responsible for information technology, international operations, purchasing, distribution, franchisee training, human resources, customer service and risk management. Previously, Ward was chief legal officer.
In addition to Ward and Lauck, Mrs. Fields also named Greg Barber as chief financial officer and president of TCBY. Previously he served as president of TCBY.
Mrs. Fields emerged from Chapter 11 bankruptcy in October after an initial filing in August. Over the summer Mrs. Fields also acquired a three-year, $10 million line of credit from several of its stakeholders to fund its ongoing and future operations.