In a released statement this morning, B.F. Quality Foods CEO, Daryl Freeling,
detailed that "despite the companies 80 year tradition of excellence in the food and beverage industry, sadly, our customers have lost faith in our brands good name."

B.F. Quality Foods announced a May recall of it's non-milk based baby food products. These brands include, 'Morning Surprise' jarred preserves, 'Midday Munchies' fruit juices, and 'Miles o' Smiles' processed vegetables.

Junk bond status:
On the NASDAQ, B.F. Quality Foods were reduced to junk bond status.
B.F. Quality Foods had also made drastic job cuts amounting to 9,000 employees worldwide. Five manufacturing plants and two distribution warehouses in the US closed last month ensuring the companies immanent closing.

Receivership:
Is a form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee. There has been no official word yet on when this may happen though.