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Twinkies Maker Seeking Ch. 11 Protection
KANSAS CITY, Mo. - Interstate Bakeries Corp., the nation's largest wholesaler baker whose products include Twinkies and Wonder Bread, filed for Chapter 11 bankruptcy protection early Wednesday. The company also named a new chief executive.
"IBC has some of the most recognizable and popular baked breads and sweet goods brands in the nation," [CEO Tony] Alvarez said in a statement. "By filing for protection under Chapter 11 and obtaining...financing, the company should have the liquidity, time and resources necessary to thoroughly identify, assess and address the issues that will enable this company to be successful in the future."
