US: Interstate Bakeries posts US$4.1m monthly loss
One month after posting its largest profit since it filed for bankruptcy nearly two years ago, Interstate Bakeries has revealed that it took a step backwards in June, reporting losses of US$4.1m.
For the four weeks ended 1 July, the Kansas-based maker of Twinkies and Wonder bread said revenues dropped by 17% from the previous month, down to $239m. In June 2005 Interstate posted revenues of $254.4m and losses of $9.1m.
The company has improved margins by streamlining operations with the closure of thrift stores, distribution centres and nine bakeries.
In May, the company had reported its second monthly profit since filing for bankruptcy in September 2004, with earnings of $5.8m.
The bankrupt maker of Twinkies and Wonder bread, Interstate Bakeries, yesterday (30 January) appointed Craig D. Jung as chief executive officer subject to approval from the US Bankruptcy Court....
The US Bankruptcy Court has approved proposed changes to the board of directors of Interstate Bakeries....
Interstate Bakeries Corporation has reached an agreement with lenders, creditors and investors to revamp its board of directors....
The Kansas City-based bakery group Interstate Bakeries, which has been in bankruptcy protection since 2004, has filed a series of overdue financial reports with the Securities and Exchange Commission ...
The creditors and shareholders of Interstate Bakeries Corp, the producer of the Hostess Twinkies and Wonder Bread brands which has been operating under Chapter 11 bankruptcy protection for two years, ...
Interstate Bakeries, the bankrupt maker of Twinkies and Wonder Bread, revealed that its monthly losses increased by 34% in October, with sales remaining flat....
Interstate Bakeries has asked to US Bankruptcy court to protect it from its largest shareholder's demands that it elect new directors....
Hedge fund Brencourt Advisors has filed a letter it sent to Interstate Bakeries Corporation with the US Securities and Exchange Commission (SEC) seeking the company to hold an annual shareholders meet...
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