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NexCen future on shaky ground
May 27, 2008
Blue Mau Mau: NexCen Brands, owner of the Pretzel Time, Pretzelmaker, Great American Cookies, Marble Slab Creamery and Maggie Moos brands, warned it faces a severe cash squeeze and had "substantial doubt" that it will remain in business.
During a review of its books, the firm discovered reporting errors and an obligation to pay off $21 million in debt by October.After the announcement, NexCen Brands' stock plunged 77 percent.
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