Business turns sour for Bob's Candies

ALBANY - Bob&#39;s Candies Incorporated, which has manufactured candy canes in Albany for 83 years, has ended operations after the company was unable to arrange continued financing from its primary creditor. <br> <br> Privately held Bob&#39;s Candies notified its 650 employees - including 300 in Reynosa, Mexico - not to return to work. <br> <br> Chief financial officer John Leonard said Bob&#39;s lender, Bank of America, was unwilling to continue further financing under terms acceptable to company executives. <br> <br> Leonard said Bob&#39;s Candies executives were meeting with attorneys yesterday to consider legal options, including a bankruptcy filing. <br> <br> The company was founded in Albany by Bob McCormack after serving in World War One, ultimately growing into the world&#39;s largest candy cane maker. McCormack&#39;s three grandchildren now run the company.