Just because a product line has been around a long time and has high name recognition does not mean it will be around forever.

That’s a lesson consumers learned in 2012 when Hostess filed for bankruptcy and ceased operations. In seemingly a few days, iconic products like Twinkies, Fruit Pies, and Hostess Cupcakes disappeared from store shelves.

They were eventually brought back a few years later as a new company picked up the company’s assets. But that’s not always the case. Sometimes, when a popular retail brand goes bankrupt, that’s the end, and even storied names with long histories have gone away and stayed gone. 

Related: Coca-Cola and Pepsi face a new big-name rival

Blue Harvest Fisheries may not be as big a name as Hostess, but the company dominated parts of the fishing industry in New England and had a huge distribution network. Its abrupt Chapter 7 filing in 2023 left its vendors scrambling for suppliers and the fishermen who provided its fish scrambling to find new wholesalers for their catch. 

It was an ugly situation that not only hurt the economy, at least in New England fishing communities, it also drove up prices as grocery chains had to find non-local sources. 

When a major supplier files for bankruptcy, the effect can be much deeper than its products simply disappearing.

100-year-old deli company files bankruptcy

Julian Freirich founded Freirich Meats in 1921 with the goal of the having the best-tasting and highest-quality meats. That idea and the company’s motto “The Family of Fine Meat Products” has driven its 103-year run as a top provider to chains including Walmart’s BJ’s, Price Chopper, Giant, and the Fresh Market.

The company shared its goals on its website. 

“The Family of Fine Meat Products emphasizes our determination to create a company with a family atmosphere. We strive to provide a safe, stable, rewarding, and supportive working environment for our employees. We will produce food which is safe, wholesome, legal, and consistent with our high standards of quality. We will guarantee our customers 100% product satisfaction,” the company shared.

Those are noble goals and they helped the company have a long successful run, but despite the company’s history, its future is very much in doubt. as Freirich Foods has filed for Chapter 11 bankruptcy protection.

What’s next for Freirich Foods?

The company’s Chapter 11 bankruptcy showed it had between $10 and $50 million in debt with the same range of assets. Friedrich Foods also claimed in the filing that it would have money available for unsecured creditors.

Currently, Freirich Foods continues to operate, and there’s no mention of the Chapter 11 filing on its website.  The company has about $5.1 million in accounts receivable and about $5.7 million in inventory in some stage of being processed. In overall assets, which includes its inventory, machinery, intellectual property, buildings, and vehicles Freirich showed about $13 million in assets.

BJ’s Wholesale Club stands as the company’s second-biggest creditor with Freirich owing the Walmart-owned brand $1.6 million. It’s largest creditor is a trust owned by Jeff Freirich, a member of the founding family who does not currently hold a leadership position with the company.

Currently, Paul Bardinas serves as CEO of the company.

“A veteran of Freirich Foods since 1993, Paul Bardinas guides our company as president and chief executive officer, as well as serving as a member of our board of directors. Formerly vice president of operations and chief operating officer, Paul has held a number of positions in Freirich operations and general management during his 15-year tenure,” the company posted on its website.

Freirich has not yet filed a plan for how it intends to finance its Chapter 11 reorganization with the North Carolina court where it filed for bankruptcy.

The company now operates from its Salisbury, NC headquarters, and its main products are corned beef, pastrami, roast beef, various deli meats, and many other specialty items.