USA: Interstate Bakeries posts Q3 loss
US baked goods maker Interstate Bakeries has posted a quarterly loss due to disappointing sales of its Hostess Twinkies and other snack cakes.
The company posted a net loss for the third quarter to 8 March of US$6.7m, compared with a profit of $16.7m a year earlier. Net sales fell 0.2% to $1.05bn.
Interstate also said it was in discussion with its lenders to amend current financial covenants because the company's recent performance raised the possibility that some requirements might not be satisfied going forward. To avoid this possibility, the company said it is working with its lenders to amend the credit facility for future flexibility.
Interstate Bakeries, the marker of Twinkies and Wonder Bread, has asked a bankruptcy court to allow the company additional time to draft its reorganisation plan....
Interstate Bakeries has been denied a motion to stop trading its stock, costing the company US$90m. The motion would have enabled the wholesale baker and distributor to preserve net operating losses f...
Interstate Bakeries, the bankrupt manufacturer of Twinkies and Wonder Bread, has announced further job cuts in another round of consolidation that the company hopes may reverse its poor financial perf...
Baker Interstate Bakeries Corporation has announced a voluntary recall of oatmeal cookies sold in its retail stores throughout the United States....
Baker Interstate Bakeries Corporation has announced that Richard C Seban has been appointed as its chief marketing officer....
Atkins diet company Atkins Nutritionals has filed for Chapter 11 bankruptcy in the New York bankruptcy court, the Reuters news agency reported....
Baker Interstate Bakeries Corporation has announced that Charles A. Sullivan has retired from its board of directors, effective immediately....
Baker Interstate Bakeries Corporation has introduced White Bread Fans 100% Whole Grain from Wonder, which it says is the first real 100% whole grain bread created specifically for people who love the ...
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