Summary
KANSAS CITY, Mo. -- Interstate Bakeries Corp., the purveyor of lunch box staples Wonder Bread and Twinkies, filed for bankruptcy protection Wednesday, felled by the combination of a more health- conscious public and smothering operational costs.
The nation's largest wholesale baker, which has operations in Salt Lake City and Ogden, had shown signs of financial weakness for months. It filed for Chapter 11 reorganization and installed new management, saying it intended to survive. The company said it would continue operating its bakeries, outlet stores and distribution centers.See the full content of this document
Extract
Bakery Giant Is Filing for Chapter 11
Tony Alvarez, the head of turnaround firm Alvarez & Marsal and the bakery's new chief executive, said the company had no immediate plans to lay off additional personnel. But, he added, "It's v...
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