Interstate Bakeries Posts $21 million Loss
1 decade 2 years 6 months ago
Wednesday, April 05 2006
Apr 5, 2006
Wednesday, April 05, 2006 1:06:41 PM CDT
April 05, 2006
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It's the first month-to-month sales increase in nearly a year for the bankrupt maker of Hostess Twinkies and Wonder Bread. But the Kansas City-based company says it still lost $20.8 million in the four-week period. Interstate Bakeries filed for bankruptcy protection in September of 2004, blaming low sales and fixed operational costs. Since then it's been reducing expenses by streamlining operations, closing nine bakeries, cutting 5,000 jobs and quitting unprofitable markets.
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