Bakers Journal

News
Interstate Bakeries nears deal to exit bankruptcy


January 27, 2009
By The Associated Press

Jan. 27, 2009 – Interstate Bakeries Corp. says it has reached an agreement "in
principle" on the remaining issues needed for it to exit more than four
years of bankruptcy.

Jan. 27, 2009 – Interstate Bakeries Corp. says it has reached an agreement "in
principle" on the remaining issues needed for it to exit more than four
years of bankruptcy.

While the company cautioned that its reorganization plan could still
collapse, the Kansas City-based maker of Wonder Bread and Hostess
Twinkies said late Monday that it was nearing a deal with General Electric Capital Corp.

"We are now working diligently with GE Capital and our other financing
providers to finalize all documentation for our exit financing," CEO Craig Jung said in a statement. "We are optimistic
that we will emerge from Chapter 11 in the near future." | FULL STORY

Advertisment