Feb. 4, 2009, NEW YORK – Interstate Bakeries Corp., the maker of Wonder Bread and Twinkies snack cakes,
said on Tuesday it has emerged from bankruptcy after operating
under court protection for more than four years.
Interstate, based in Kansas City, Missouri, filed for
bankruptcy protection in September 2004, as a drop in sales and
higher costs for ingredients, energy, health care and pensions
led to a cash crunch.
Its reorganization plan was approved by the U.S. Bankruptcy
Court in Kansas City in December, but its emergence was delayed
several weeks as it renegotiated a critical credit agreement
with lender GE Capital Corp. | FULL STORY
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