June 27, 2008: Interstate Bakeries Corp. must file a new reorganization plan by Monday and get support from its unions or provide a liquidation strategy to its lenders.
The stipulations are laid out in the bankrupt company's most recent financing package provided by a group of lenders. Kansas City-based IBC filed for protection from creditors in September 2004 amid rising costs and declining sales.
Click here to read more at tradingmarkets.com.
Do you like this post?