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Bloomberg
Sugarfina Inc, the chain of luxury candy shops backed by some of the biggest names in banking and entertainment, filed for Chapter 11 bankruptcy protection as mall-based stores struggle to compete.
Posh candies like Champagne gummy bears for $8.50 and bourbon-and-toffee chocolate bars at $9.50 are part of Sugarfina’s lineup. The company listed assets and liabilities of up to $50 million in its bankruptcy petition.
The privately held string of candy boutiques counts rock star Bono (Paul David Hewson) and Goldman Sachs Group CEO David Solomon among its minority shareholders, court papers show.
Neither is likely to see his fortunes seriously impaired, which each of them listed as holding less than a 1 percent stake.