Specialty’s Café and Bakery announced last week it was closing its 55 location for good after 33 years in business. On Wednesday the Pleasanton, Calif.-based bakery, known for hot, fresh cookies, officially filed for chapter 7 bankruptcy liquidation, the San Francisco Business Times reported. That means the company will sell off all its assets to pay off its creditors. According to bankruptcy filings, the company’s total assets are between zero and $50,000. That falls far short of what it owes — between $1 million and $10 million to nearly 1,000 creditors. Specialty’s Café and Bakery has decided to sell off what it can and close down for good.
