Popular Louisville bakery, coffee shop Please & Thank You files for bankruptcy protection

Owner and president Brooke Vaughn told LBF all locations would remain open, saying the intent is to preserve jobs and "keep the brand alive."

LOUISVILLE, Ky. (WDRB) — A popular Louisville-based bakery and coffee shop filed for bankruptcy protection Wednesday.

Please & Thank You LLC filed for Chapter 11 protection June 3 in the U.S. Bankruptcy Court for the Western District of Kentucky, according to our partners at Louisville Business First.

Chapter 11 protection allows the company to restructure its debt while it remains in operation. Owner and president Brooke Vaughn told LBF all locations would remain open, saying the intent is to preserve jobs and "keep the brand alive."

Citing court filings, LBF reported more than $300,000 in assets were listed against roughly $4 million in liabilities. According to the filing, the company may not have funds available for unsecured creditors after administrative expenses are paid. It's largest unsecured creditor is a private equity firm to which it owes about $200,000. Other creditors include Chase Ink, Costco Anywhere, Bank of America, Taft Stettinius & Hollister LLP and Pacers Basketball LLC.

In an interview with LBF, Vaughn addressed broader economic pressures on local small businesses she said are "struggling in silence."

"The Kentucky economy seems to be hit harder than other markets," she said.

The filing comes less than a year after the owners announced plans to expand through franchising in other states, including Arkansas, Missouri, Alabama, Tennessee, Michigan and Ohio.

Please & Thank You, founded by Vaughn in 2010, operates four locations in Kentucky and Indiana, along with two kiosks at Gainbridge Fieldhouse in Indianapolis.

The bakery and coffee shop is known for its chocolate chip cookies and other baked items. It was voted "Best Cookie Shop" in the U.S. for the USA Today Readers' Choice Awards in 2023.