Title: Ample Hills Creamery: From Bankruptcy to Resilience, Founders Reacquire Brand
In a remarkable tale of setbacks and resilience, Brian Smith and Jackie Cuscuna, co-founders of Ample Hills Creamery, once a thriving ice cream business, are making a stunning comeback after facing bankruptcy. The dynamic duo’s determination has seen them reacquire their beloved brand after a rollercoaster ride of financial difficulties.
Back in 2011, Smith and Cuscuna kick-started their ice cream venture with a humble push cart on the streets of Brooklyn. Their delectable treats quickly earned a reputation, leading to the opening of their first brick-and-mortar shop. The business achieved extraordinary success, boasting a valuation of $40 million and a presence of 13 scoop shops and an online store that catered to customers nationwide.
However, despite their initial achievements, Ample Hills experienced financial woes due to costly business decisions and strategic missteps. The difficulties culminated in March 2020 when Smith and Cuscuna filed for business bankruptcy, followed by personal bankruptcy just six months later.
Amidst the chaos, Schmitt Industries, a machine parts manufacturer, seized the opportunity and acquired Ample Hills Creamery for a mere $1 million. Uncertainty loomed, but the resilient couple remained undeterred. In June 2020, with immense determination, they opened a new ice cream shop called The Social. Moreover, with the backing of investors, they successfully reacquired the Ample Hills brand for a modest sum of $150,000.
For Smith, the decision to enter the ice cream industry was fueled by the joy it brought him while making frozen treats for family and friends. Cuscuna, recognizing his passion, encouraged him to transform his hobby into a thriving business.
Ample Hills Creamery rapidly gained popularity, attracting a slew of celebrities. However, their ambitious expansion plans, coupled with imprudent spending on manufacturing equipment, proved to be their downfall. Financial difficulties arose, leading to the unfortunate bankruptcy.
Nevertheless, Cuscuna displayed remarkable resilience. Taking an entrepreneurial course tailored for restarts, she located an investor for their new venture, The Social. The couple also shifted their focus towards profitability, relinquishing the CEO role and bringing on a business coach and entrepreneur.
Now, Smith and Cuscuna are dedicated to rebuilding the once illustrious brand. They oversee all marketing and creative processes while focusing on brand revival. With a smaller group of dedicated investors supporting their aspirations, they are determined to surpass past challenges and propel Ample Hills Creamery towards even greater success.
As the duo’s boundless spirit shines through, the future of Ample Hills Creamery appears promising once again. From the depths of bankruptcy, they have emerged as resilient entrepreneurs who refuse to let setbacks define their journey. With their passion for ice cream and unwavering dedication, Smith and Cuscuna are undoubtedly well-positioned to restore the glory of Ample Hills Creamery’s delectable delights.