Exhibit 4.8

MOVABLE HYPOTHEC

|GRANTED BY:   |  | ARCHIBALD CANDY (CANADA) CORPORATION, a corporation duly constituted pursuant to theCanada Business Corporations Act, having its head office at
1 Valleybrook Drive, North York, Ontario M3B 2S7, herein acting and represented by Richard Anglin, Vice President, hereunto duly authorized as he so declares.                                                                                                                                            
|------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|              |  | (hereinafter the "Grantor")                                                                                                                                                                                                                                                                                                                                                                                                                               
|IN FAVOUR OF: |  | FOOTHILL CAPITAL CORPORATION, acting as administrative agent for and on behalf of the Lenders (as such term is defined below), a corporation, having its head office at 1 Boston Place, Boston,
 Massachusetts, United States, 02108, herein acting and represented by Vincent Egan, Vice President, duly authorized as he so declares. Notice of its address has been registered at the Register of Personal and Movable Real Rights under number
023895.
|              |  | (the "Agent")                                                                                                                                                                                                                                                                                                                                                                                                                                             

WHEREAS, pursuant to the terms of a loan and security agreement and guaranty dated as of November 1, 2002 entered into between, inter alia, Foothill Capital
Corporation, as arranger and administrative agent for the Lenders, Ableco Finance, L.L.C. and Foothill Capital
Corporation, as lenders (together with each other person made a party thereto in accordance thereof, collectively the "Lenders"), Archibald Candy Corporation, as Borrower and Laura Secord Holdings
Corp. and the Grantor, as guarantors (as such agreement may be amended, supplemented, restated or replaced, from time to time, the "Loan Agreement"),
the Grantor has agreed to guarantee the obligations of Archibald Candy Corporation under the terms of a guarantee and indemnity
agreement governed by the laws of the Province of Ontario, dated as of November 1, 2002 entered into between the Agent and the Grantor (as such agreement may be amended, supplemented, restated
or replaced, from time to time, the "Guarantee Agreement").

WHEREASit is a condition of the Loan Agreement that the Grantor enter into this Agreement to secure its obligations under the Guarantee
Agreement.

NOW
THEREFORE, THE PARTIES HERETO HAVE AGREED AS FOLLOWS:

1.    INTERPRETATION

1.1    Definitions

The
following terms, wherever used in this Agreement, shall, unless there be something in the context inconsistent therewith, have the following meanings:



1.2    Capitalized terms

Capitalized
terms used herein and not otherwise defined shall have the meaning given to them in the Loan Agreement.

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1.3    Gender

Unless
there be something in the context inconsistent therewith, words importing the masculine gender shall include the feminine gender and vice versa.

1.4    Headings

The
division of this Agreement into sections, subsections and paragraphs and the insertion of titles are for convenience of reference only and do not affect the meaning or the
interpretation of the present Agreement. Unless otherwise indicated, a reference to a particular section, subsection or paragraph is a reference to the particular section, subsection or paragraph in
this Agreement.

2.    HYPOTHEC: DESCRIPTION OF CHARGED PROPERTY

The Grantor hereby hypothecates in favour of the Agent the universality of its movable property, corporeal and incorporeal, present and future, of any nature
whatsoever and wheresoever situated (hereinafter the "Charged property"), the whole including without limitation the following universalities of present
and future movable properties:

2.1    Property in Stock



2.2    Claims, Book Debts and Other Movable Property



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A
right or a claim shall not be excluded from the Charged property by reason of the fact that: (i) the debtor thereof is domiciled outside the Province of Québec or
(ii) the debtor thereof is an affiliate (as such term is defined in theCanada Business Corporations Act) of the Grantor (regardless of the law
of the jurisdiction of its incorporation) or (iii) such right or claim is not related to the operation of the Grantor or (iv) such right or claim is not related to the ordinary course of
business of the Grantor.

2.3    Securities



2.4    Equipment and Road Vehicles



2.5    Trade Marks and Other Intellectual Property Rights



2.6    Fruits and Revenues



2.7    Records and Others



Where,
under the terms of any of the above paragraphs, the Hypothec charges a universality of movable property, all movable property which is acquired, transformed or manufactured after
the date of this Agreement shall be charged by the Hypothec, whether or not such property has been acquired in replacement of other Charged property which may have been alienated by the Grantor in the
ordinary course of business, whether or not such property results from a transformation, mixture or combination of any Charged property, and in the case of securities, whether or not they have been
issued pursuant to the purchase, redemption, conversion or cancellation or any other transformation of the charged securities and without the Agent being required to register or
re-register any notice whatsoever, the object of the Hypothec being a universality of present and future movable property.

3.    AMOUNT OF THE HYPOTHEC

The amount for which the Hypothec is granted is a principal amount of ONE HUNDRED THIRTY MILLION CANADIAN DOLLARS (CDN$130,000,000) with interest thereon from the
date of this Agreement at the rate of twenty-five percent (25%) per annum.

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4.    SECURED OBLIGATIONS

The Hypothec shall secure payment and performance of all of the Guaranteed Obligations (as such term is defined in the Guarantee Agreement) and all of the
Grantor's other obligations, direct or indirect, at any time owing to the Agent or the Lenders and resulting from or contemplated by the Guarantee Agreement.

The
Hypothec further secures the payment of all sums due or to become due pursuant to the present Agreement and the performance of all obligations provided for under the present
Agreement.

Any
future obligation hereby secured shall be deemed to be one in respect of which the Grantor has once again obligated itself hereunder according to the provisions of
section 2797 of theCivil Code of Québec.

5.    ADDITIONAL PROVISIONS TO THE HYPOTHEC ON CLAIMS

5.1    Recovery



5.2    Authorization to Recover



6.    ADDITIONAL PROVISIONS TO THE HYPOTHEC ON SECURITIES

The Agent may, if it deems it useful to protect its rights in and to the hypothecated securities, transfer any securities or any part thereof into its own name or
that of a third party so that the Agent or its nominee(s) may appear as the sole registered holder in which case:

6.1    Voting rights



6.2    Revenues, dividends and others



6.3    Proxy



For
the purpose of this Section 6, the Grantor hereby irrevocably appoints any officer or employee of the Agent as its attorney with full power of substitution and authority to
execute such documents necessary to render effective the rights granted to the Agent pursuant to the present Section 6.

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7.    ASSIGNMENT OF CLAIMS SUBJECT TO THE FINANCIAL ADMINISTRATION ACT

The Grantor hereby assigns to the Agent by way of absolute assignment all its present and future claims which are subject to Sections 67 and 68 of the Financial Administration Act, as collateral and continuing guarantee of all Secured Obligations referred to in paragraph 4 hereof. The Agent may,
at any time, fulfill any of the formalities required by law to make such transfer enforceable.

8.    COVENANTS

The Grantor hereby covenants not to create, incur, assume, or permit to exist, directly or indirectly, any Lien on or with respect to any of its assets, of any
kind, whether now owned or hereafter acquired, or any income or profits therefrom, except for Permitted Liens, in accordance with Section 7.2 of the Loan Agreement (including Liens that are
replacements of Permitted Liens to the extent that the original Indebtedness is refinanced, renewed, or extended under Section 7.1(d) of the Loan Agreement and so long as the replacement Liens
only encumber those assets that secured the refinanced, renewed, or extended Indebtedness).

9.    AGENT'S RECOURSES IN CASE OF DEFAULT

9.1    Agent's rights



9.2    Exercise of recourses



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9.3If the Grantor exercises its right to remedy to the Event of Default mentioned in the prior notice of default, the
Grantor shall, as the law requires it, pay all reasonable fees incurred by the Agent by reason of the default; these fees shall include without limitation the administrative fees of the Agent, the
legal fees of its legal advisers and fees paid to experts.

9.4If the Agent elects to exercise its hypothecary right of taking in payment the Charged property and the Grantor requires
instead that the Agent sells itself or under judicial authority the Charged property on which such right is exercised, the Grantor hereby acknowledges that the Agent shall not be bound to abandon its
recourse of taking in payment unless, prior to the expiry of the time period allotted for surrender, the Agent (i) has been granted with a security which it considers satisfactory, guaranteeing
that said Charged property will be sold at a sufficiently high price to enable its claim to be paid in full; (ii) has been reimbursed of all reasonable costs and reasonable expenses incurred,
including all fees of consultants and legal counsel, (iii) has been advanced the necessary sums for the sale of said Charged property; the Grantor further acknowledges that the Agent shall have
the right to choose the type of sale it may carry out.

9.5The Grantor will be deemed to have surrendered the Charged property held by the Agent or on its behalf if the Agent has
not, within the delays determined by law or by a tribunal to surrender, received written notice from the Grantor to the effect that it is opposed to the exercise of the hypothecary recourse set forth
in the prior notice.

9.6Where the Agent sells the Charged property itself, it shall not be required to obtain any prior assessment by a third
party.

9.7The Agent may choose to sell the Charged property with legal warranty given by the Grantor or with complete or partial
exclusion of such warranty; the sale may also be made cash or with a term or under such conditions determined by the Agent; it can be cancelled in case of non-payment of the purchase price
and such Charged property may then be resold.

9.8In order to exercise any of its rights, the Agent may use the premises in which the Grantor's property is located.

9.9Where several creditors are involved, the parties hereto waive the application of sections 1332 to 1338
inclusively of theCivil Code of Québec.

10.    GENERAL PROVISIONS

10.1    Additional Security



10.2    Investments



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10.3    Set-off



10.4    Imputation of Payments



10.5    Delays



10.6    Continuing Security



10.7    Notice of Default



10.8    Cumulative Rights



10.9    Irrevocable power of attorney



10.10    Performance



10.11    Delegation



10.12    Liability



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10.13    Successors



10.14    Notices



10.15    Receipt of Notice



10.16    Governing Law



11.    ENGLISH LANGUAGE

The parties hereto confirm that the present Agreement has been drawn up in the English language at their express request. Les parties aux présentes
confirment que la présente convention a été rédigée en langue anglaise à leur demande expresse.

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EXECUTED
THIS 1st day of November, 2002.

| |  | ARCHIBALD CANDY (CANADA) CORPORATION                                                        
| |  | --------------------------------------------------------------------------------------------
| |  |                                                                                             
| |  | per:                                                                                        
| |  |                                                                                             
| |  | FOOTHILL CAPITAL CORPORATION,acting as administrative agent for and on behalf of the Lenders
| |  |                                                                                             
| |  | per:                                                                                        

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