A nearly century-old Chicago candy maker has filed for bankruptcy as rising costs and heavy debt pressure its business. Primrose Candy Company – a family-owned manufacturer known for its hard candies, chewy treats and popcorn – filed for Chapter 11 bankruptcy protection Tuesday in the U.S. Bankruptcy Court for the Northern District of Illinois, according to court documents. "What we have is a lot of old, old debt that we just can’t afford to pay in its entirety," David Welch, an attorney representing Primrose, told the Chicago Tribune. "Our hope is to confirm a plan of reorganization down the road, months down the road, that enables us to address that old debt, but not have the old debt be part of our cash flow requirements on a current basis." GET FOX BUSINESS ON THE GO BY CLICKING HEREPrimrose Candy Company did not immediately respond to FOX Business' request for comment.