Dippin’ Dots CEO Resigns
Dippin’ Dots founder Curt Jones resigned as CEO yesterday as part of an agreement reached with Regions Bank. The agreement allows the novelty ice-cream company to borrow an additional 1.25 million dollars to maintain operations until the business can be auctioned off. Regions Bank refused to give the loan unless Jones resigned. Dippin’ Dots filed for federal bankruptcy protection last November to prevent foreclosure on more than 11 million dollars in loans. Jones’ lawyer tells The Paducah Sun the resignation will put Jones in a position to buy back the company when bidding opens in eight weeks.