Ready-to-Eat Foodmaker GoPicnic Brands Files for Chapter 11 in Chicago

GoPicnic Brands Inc., a Chicago-based producer of portable ready-to-eat meals and snacks, filed a Chapter 11 petition in its hometown Dec. 3 with the goal of selling the business by the end of January (In re GoPicnic Brands Inc., Bankr. N.D. Ill., 14-43382, petition filed 12/3/14).

Despite an equity infusion of more than $5 million over the past three years, GoPicnic said it has experienced little to no growth in that period, hasn’t made its yearly projections, and is in need of additional liquidity.

For those reasons and because it’s in the midst of a dispute with ...