Despite presenting itself as a cheery oasis in malls, theme parks, and at street festivals, Dippin Dots is a little less happy just under the exterior. The company has been having financial troubles for a while, racking up debts left and right, as well as small and large. It now owes nearly twelve million overall, with debts running from $657,000 to Peoples Bank to $7.16 million owed to Quimby Rubber Stamps Shoppe in Paducah, Ky, of all places.

Yesterday, these debts came to a head. CNN Money is reporting “the ice cream of the future” filed for Chapter 11 after finding itself unable to reach an agreement with lender Regions Financial. Since Dippin Dots owes the secure lender company $10 million and the company’s assets only totally around $23 million, it’s looking pretty grim for the cold dessert company.

If you are a fan of those yummy little balls of frozen goodness, there’s no need to panic yet. According to company spokesperson, Steve Heisner, Dippin Dots has no plans to become the ice cream of the past. Here’s my big worry: I don’t know anyone who loves Dippin Dots. I know plenty of people who would totally be down for some Dippin Dots like once a year. However, all the advertising and business plans in the world wouldn’t make those people pick up Dippin Dots more often. I don’t want to say the company is doomed, but it could be "the Borders of the future."

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