Interstate Bakeries seeks four-month exclusivity extension to complete business plan

By Caroline Salls

Pittsburgh, May 11 - Interstate Bakeries Corp. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Western District of Missouri.

The company wants to extend its exclusive plan-filing period to Oct. 5 from June 2 and the solicitation period to Dec. 5, 2007 from Aug. 1.

Under the leadership of a new board of directors and new chief executive officer, Interstate said it is developing a five-year business plan, which it must present to key constituents by July 1.

Interstate said it is hoping the completion of the business plan will facilitate plan of reorganization negotiations.

However, the company said this process will go beyond the current June 2 plan-filing deadline.

A hearing is scheduled for May 31.

The Kansas City, Mo., bakery operator filed for bankruptcy on Sept. 22, 2004. Its Chapter 11 case number is 04-45814.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.