Belgian Fudge Solidifies Assets

Don't worry. You can still buy Vanilla Belgian Fudge and Oreo Cookie ice cream in Harvard Square.

Despite its severe financial straits, Belgian Fudge is only reorganizing its business, not liquidating it.

The five-year-old company, based in Allston, filed for bankruptcy in April after closing nine stores throughout eastern Massachusetts. The franchise still has stores in Cambridge, Hyannis and Chatham.

"We're really planning to stay in service and provide more and better ice cream," Lisa Lorentzian, Belgian Fudge chief accountant, said last week.

Lorentzian said poor choice of locations was one reason for Belgian Fudge's losses.

Lorentzian added that the company is now turning the corner financially. "We have made a promise to our creditors not to incur any more debts and we have not."

Although Belgian Fudge's debts last spring totaled nearly $400,000, Lewis N. Sassoon, attorney for the firm's creditors, said the company's creditors are working with Belgian Fudge to assure the repayment of the debts. "We don't want to put them out of business," Sassoon said. He added that he thinks the present management will remain in charge.

Belgian Fudge's outlet in the Garage in Harvard Square closed last spring, and the Mass Ave store began selling factory-produced ice cream in April. The store resumed selling handmade ice cream as soon as it moved ice cream manufacturing machinery from its headquarter to the Mass Ave store.