January 17, 2008: by Jennifer Mann, for the Kansas City Star: Interstate Bakeries Corp. said it didn’t receive any offers for the company by Tuesday’s deadline, but that doesn’t bar other parties from proposing plans to rescue the bankrupt baking company.
Interstate had solicited alternative offers to its own proposed plan of reorganization and set a Jan. 15 deadline for those to be filed. But the company acknowledged Tuesday that because its “exclusive right” to file a reorganization plan expired last week, other investors now have an open avenue to make proposal.
Do you like this post?