Bakeries Have 30 More Days

1 decade 1 year 6 months ago Thursday, October 04 2007 Oct 4, 2007 Thursday, October 04, 2007 4:52:53 AM CDT October 04, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
KANSAS CITY (AP) - The maker of Hostess Twinkies and Wonder Bread has one more month to work out an agreement with its largest union and develop a plan to get out of bankruptcy. U.S. Bankruptcy Judge Jerry Venters agreed to extend the deadline for Interstate Bakeries to develop a reorganization plan, which was to expire tomorrow.The company asked for more time, saying it still hopes to work out concessions with the Teamsters union. The union represents 10,000 of the Kansas City-based company's 25,000 employees. An attorney for the Teamsters told the judge he doubts the two sides will reach an agreement by November 7th. He says companies.

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