As heard on the PETER BOYLES show/KHOWAM.
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Wednesday, January 14, 2009
TWINKIES & WONDER BREAD IN BANKRUPTCY/MEXICAN BIMBO BREAD MOVING IN
"In other bankruptcy news, Interstate Bakeries Corp. said that it is still trying to secure financing to emerge from Chapter 11. The company — known for its Twinkies and Wonder Bread, among many other products — said that investors and lenders have been unable to work out the arrangements for a $125 million credit line from General Electric Capital Corp. and GE Capital Markets, according to the Kansas City Star. The loan is part of the $600 million financing package needed to emerge from bankruptcy, the paper noted. The baking company has a Feb. 9 deadline to get the deal done, according to the report. "We continue to work diligently and continue to make progress and hope to reach a positive conclusion," spokesman Lew Phelps told the newspaper."
CFO.COM
BIMBO BAKERIES WEBSITE:
Grupo Bimbo
"Bimbo Bakeries USA is affiliated with Mexican- based Bimbo Bakeries.
Founded in 1945, Grupo Bimbo is one of the three largest baking companies
in the world in terms of production and sales volume"
http://www.GrupoBimbo.com.mx
Labels:
BANKRUPTCY,
BIMBO BREAD,
WONDER BREAD
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