Tornicade
2018 RBF League Champion
- Joined
- May 11, 2011
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Interstate bakeries had 32,000 employees in 2005. it paid 330 million to raltson in 1995 for its dolly
when it first entered into bankruptcy it became a private corp under the control of a prvate holding company.
December 15, 2007 | From Times Wire Services
Interstate Bakeries Corp., maker of Twinkies snack cakes, said a reorganization proposal from Yucaipa Cos. and the Teamsters union did not constitute a qualifying bid for the company under terms set in Bankruptcy Court. The Kansas City, Mo.-based company said it would continue discussions with the Teamsters and Yucaipa, which submitted a "possible plan of reorganization" Thursday that offered to provide creditors with $580 million. Yucaipa is controlled by Los Angeles billionaire Ron Burkle.
the company instead tied its wagon around the hedge funds
Interstate Bakeries Corp. won court approval of a financing deal potentially funding its reorganization and establishing a process to let rival companies bid for the maker of Wonder Bread and Twinkies.
U.S. Bankruptcy Judge Jerry W. Venters in Kansas City, Mo., approved the proposal to name an affiliate of hedge fund manager Silver Point Capital as the so-called stalking-horse bidder. Silver Point is offering as much as $400 million in funding.
when it first entered into bankruptcy it became a private corp under the control of a prvate holding company.
December 15, 2007 | From Times Wire Services
Interstate Bakeries Corp., maker of Twinkies snack cakes, said a reorganization proposal from Yucaipa Cos. and the Teamsters union did not constitute a qualifying bid for the company under terms set in Bankruptcy Court. The Kansas City, Mo.-based company said it would continue discussions with the Teamsters and Yucaipa, which submitted a "possible plan of reorganization" Thursday that offered to provide creditors with $580 million. Yucaipa is controlled by Los Angeles billionaire Ron Burkle.
the company instead tied its wagon around the hedge funds
Interstate Bakeries Corp. won court approval of a financing deal potentially funding its reorganization and establishing a process to let rival companies bid for the maker of Wonder Bread and Twinkies.
U.S. Bankruptcy Judge Jerry W. Venters in Kansas City, Mo., approved the proposal to name an affiliate of hedge fund manager Silver Point Capital as the so-called stalking-horse bidder. Silver Point is offering as much as $400 million in funding.