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Interstate Bakeries Files for Bankruptcy

NEW YORK (Reuters) - Interstate Bakeries Corp. (IBC) on Wednesday filed for bankruptcy after struggling with more than $1.3 billion in debt and weak demand for bread products, brought on by the popularity of low-carbohydrate diets.

The largest U.S. wholesale bakery and maker of Wonderbread also accepted the resignation of James Elsesser as chairman and chief executive, according to the Chapter 11 filing in the U.S. Bankruptcy Court for the Western District of Missouri in Kansas City.

The company has named Leo Benatar as non-executive chairman and Antonio Alvarez as chief executive, according to court papers. Alvarez is managing director of the turnaround firm Alvarez & Marsal to assist the company in the restructuring process.


Awwww.....what a bummer!

i wonder if they gave him a gold plated bottle of high fructose corn syrup as a retirement present. I still havent tried deep fried twinkies yet....does this mean ill never get the chance?

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36 years, 322/236/200

Betty

I'm not sure what twinkies are, living as I am in Europe - please can someone explain? I went to USA once and all I could find was bread that had sugar in it - over here, bread hardly EVER has sugar in it, and also some breads (not many) are compatible with OWL Atkins stage. Perhaps this bakery could have stayed in business better if it had made breads such as these?

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Je ne regret rien

A twinke is a light pound cake filled with a lard and sugar mixture. Doesn't that just sound WONDERFUL!!!! It's just crisco and sugar in the middle YUCK YUCK YUCK!!!!!


But man are they good!!

Amy

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Amy Mommy to David 11 Kelly 9 and Matthew 7 310/284.0/175 35 Yrs Old 5'8

First try 262/169

I had seen twinkies in american comics for years and they always looked golden and wonderful and delicious
Went to USA in 1999 and tried one.
I spat it out, it was absolutely disgusting.
And me who has not just one sweet tooth but a whole mouth full of them.

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Starting weight - 266lbs, now 230lbs.
Male, 32.
Week 12.
Loss so far - 36lbs.

It is an urban legend that Twinkies never spoil.

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Linda

234.5/*219.2/212/149 (Low was 168.5) 64, 5"1"
DH 221/*211/205/?? 66, 5'10"
* As of 7/1/2011, we first started 8/23/03

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