Life is not sweet for Revere-based New England Confectionery Co. They need to find a potential buyer, or face either receivership or bankruptcy.

Just recently, the maker of classic candies such as NECCO Wafers, Sweethearts and Clark Bar announced they may lay off 395 workers if a deal falls through. Now it appears NECCO is fighting for its survival because they've just defaulted on more than $100 million in loans. A judge last week said instead of receivership, it would make more sense for the candy maker to file for bankruptcy.

I can't believe it! Half of my cavities were a direct result of devouring endless amounts of the lemon (yellow), lime (green), orange (orange), clove (purple), cinnamon (white), wintergreen (pink), licorice (black) and chocolate (brown) wafers.

Truth be told, as kids we'd play pretend priest, and use the white ones to dispense on the tongues of our friends as Holy Communion. Forgive me, Father!

These iconic candies have a rich history that dates back before the Civil War. Speaking of which, they were called "hub wafers" back then, and were carried by Union soldiers. During World War II, the United States government ordered NECCO to produce its wafers for our soldiers overseas, creating faithful customers upon returning.

Even the water tower on top of the facility on Mass Avenue in Cambridge was painted in thin layers to resemble a roll of NECCO wafers.

Now all of that could just dissolve away? Say it ain't so, Joe!

Phil Paleologos is the host of The Phil Paleologos Show on 1420 WBSM New Bedford. He can be heard weekdays from 6 a.m. to 10 a.m. Contact him at phil@wbsm.com and follow him on Twitter @PhilPaleologos. The opinions expressed in this commentary are solely those of the author.