Yarnells Ice Cream Company closes

shifty · Jun 30, 2011

From Yarnells website (www.yarnells.com)

SEARCY, ARK. (June 30, 2011) Yarnells Premium Ice Cream ceased operations today
after the Board of Directors voted yesterday to end production indefinitely. The privately
owned company, headquartered in Searcy, Ark., told its approximately 200 employees
today that they would be paid through every day worked but not beyond that.
This has been an extremely tough year for the ice cream industry in general, and
particularly to regional, independent manufacturers like ourselves, said Christina Yarnell,
chief executive officer of Yarnells. We have examined many possible avenues to keep
the company afloat actively marketing the company to investors and strategic buyers
the majority of whom are undergoing the same financial distress we are. However,
weve been unable to obtain additional financing from our lenders or locate a buyer,
and have come to the difficult decision that the appropriate course of action is to shut
our doors.
Approximately 75 percent of Yarnells employees work at the Searcy headquarters, with
the rest of the employee base located throughout the state and in Tennessee and
Mississippi. A small team will remain working for the company to finalize operations, with
completion expected by Aug. 27.
Yarnells has been an Arkansas staple for more than 75 years, and its been a family
business that started with my great-grandfather, Ray, and has involved four generations
of the Yarnell family. Ceasing operations is heartbreaking because we have prided
ourselves on keeping our roots in Arkansas, particularly Searcy.
We are truly thankful for our amazing employees and the heart and soul that they have
put into the past successes of this company. They are great people. And I cant say
enough about our customers and their loyalty to Yarnells. Its been a pleasure creating
the highest quality ice cream that they can be proud to serve to their families and
friends. I, personally, will miss hearing their wonderful feedback and encouraging
comments.
Sales of ice cream and related products have steadily declined over the past five years
across the United States. In order to compensate for declining sales, the larger
manufacturers continue to jockey for retailers shelf space through price competition.
This, along with steadily increasing commodity prices (cream, sugar, fuel, etc.), has
resulted in significant financial damage to regional ice cream manufacturers such as
Yarnells.
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