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Society & Culture
Virtual Legality Episode 24

Let Me Call You Sweetheart: Necco in Bankruptcy (Hoeg Law)

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2y Feb 13, 2019
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What if I told you that one day, the most popular Valentine's Day candy in the country would simply up and vanish?

That the bankruptcy of the candy's centuries-old creator would result in not one, not two, but three separate asset sales that would cost the country its ability to communicate on tiny candy hearts for all of 2019.

Welcome to the crazy, true story of the New England Confectionery Co. and its bankruptcy.

And why you won't be able to call much of anything Sweetheart this holiday.

Happy Valentine's Day!

#Sweethearts #NECCO #VirtualLegality


Discussed in this episode:

"Be Mine? Nope. SweetHeart Candies Hard To Find This Valentine's Day"
NPR, January 28, 2019
(https://www.npr.org/2019/01/28/688637413/be-mine-nope-sweetheart-candies-hard-to-find-this-valentines-day)

New England Confectionery Company, Inc.
FDA Enforcement Letter, 5/16/18
(https://www.fda.gov/ICECI/EnforcementActions/WarningLetters/ucm607845.htm)

"Necco is sold for $18.8 million at bankruptcy auction"
Boston Globe, May 23, 2018
(https://www.bostonglobe.com/business/2018/05/23/necco-sold-for-million-bankruptcy-auction/j94PlNSPc0TKkKWyZX79mI/story.html)

"Spangler Candy backs out of deal to buy NECCO Wafers"
The Blade, June 2, 2018
(https://www.toledoblade.com/business/2018/06/02/Spangler-Candy-backs-out-of-deal-to-buy-NECCO-Wafers.html)

"Necco wafer factory abruptly shuts down after company is sold to unknown buyer"
Washington Post, July 25, 2018
(https://www.washingtonpost.com/news/business/wp/2018/07/25/necco-wafer-factory-abruptly-shuts-down-after-company-is-sold-to-unknown-buyer/?utm_term=.ede5cf6c2a1e)

"Spangler Candy buys Necco Wafers, Sweethearts brands"
The Blade, September 25, 2018
(https://www.toledoblade.com/business/2018/09/24/spangler-candy-buys-necco-wafers-sweethearts-brands-bryan/stories/20180924232)


PODCAST VERSIONS AVAILABLE AT

Spotify: (https://open.spotify.com/show/3qsDhQ7h6BR2wLyNQYDWB4)

iTunes:
(https://itunes.apple.com/us/podcast/virtual-legality/id1448785539?mt=2)

SoundCloud:
(https://soundcloud.com/user-510342404)

Google Play Music:
(https://play.google.com/music/listen#/ps/In3d7qersx72lvzehxo7gu6cd5u)


"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

Rick has practiced for more than a decade at some of the country's largest law firms, representing IT, software, video game, and other technology companies, as well as the individuals and institutions which fund them.

DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

Any and all feedback is appreciated. Let us know what you think!


Blog, "Rules of the Game", at https://hoeglaw.wordpress.com/

On "Help Us Out Hoeg!" a regular segment on the Easy Allies Podcast (formerly GameTrailers)

(https://www.youtube.com/channel/UCZrxXp1reP8E353rZsB3jaA)

Biweekly on "Inside the Huddle with Michael Spath" on WTKA 1050

About Hoeg Law

The Hoeg Law Firm is a business law firm with big law experience and a small firm approach focusing on start-ups, technology, financing, and everything else a business might need.


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