US wholesale bread and cake distributor Interstate Bakeries Corp’s shares reportedly dropped by around 15% in one day despite slimmer losses in the past month.
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Interstate, which manufactures Twinkies and Wonder Bread brands, reported a loss of US$7.5m for the four-week period that ended April 29.
This was an improvement on March this year, when the bankrupt bakery announced a loss of $15.2m in the four-month period compared to $10m in the comparable period last year.
However, the Kansas City Star Newspaper reported that, in heavy trading yesterday (15 June), Interstate’s shares fell $1.15, or 14.74%, closing at $6.65.
