Twinkie Maker Bankrupt

[jhlurie]

For those who don't know, Interstate Bakeries is not JUST Twinkies and Wonder bread. Here are their brands. Many of the names on this list will look AWFULLY familiar to most of you.

from: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=IBC

Wonder, Hostess, Home Pride, Drake’s, Beefsteak, Bread du Jour, Dolly Madison, Butternut, Merita, Parisian, Colombo, Sunbeam, Millbrook, Eddy’s, Holsum, Sweetheart, Cotton’s Holsum, Di Carlo, J.J. Nissen, Marie Callender’s and Mrs. Cubbison’s. In addition, the Company is a baker and distributor of Roman Meal and Sun-Maid bread.

[Jason Perlow]

Actually Chapter 11 doesn't mean the end of the world for this company, as we all know. If it was Chapter 7, it would have been really bad news. You can still operate as a Chapter 11 and come out of bankruptcy, its happened to quite a few notable companies.

It does probably mean that their badly-selling brands will either be terminated or some assets such as poorly performing bakeries in lackluster regions might be sold off though to bring them out of bankruptcy.

[jhlurie]

Actually Chapter 11 doesn't mean the end of the world for this company, as we all know.  If it was Chapter 7, it would have been really bad news. You can still operate as a Chapter 11 and come out of bankruptcy, its happened to quite a few notable companies.

It does probably mean that their badly-selling brands will either be terminated or some assets such as poorly performing bakeries in lackluster regions might be sold off though to bring them out of bankruptcy.

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Well individually some of those brands are pretty big.

That's two of the biggest snack-cake brands in one fell swoop--Hostess AND Drake's. Three major brands of bread that I know personally--Wonder, Beefsteak and Home Pride (although several of the other brands listed are obviously bread, like "Bread du Jour") . At least two ice cream brands I recognize--Dolly Madison and Eddy's. A frozen food company--Marie Callender's. Colombo is the yogurt maker, I'm assuming. Sweetheart makes cups and paper plates, I believe...

[Jason Perlow]

I would be curious, however, to see their Pro Forma and know exactly which of those brands are doing well and which are not, though.

[jhlurie]

Sweetheart, at a minimum, shouldn't be affected by the low-carb craze. And yogurt should be somewhat more protected against that than stuff like bread, snack cakes, and ice cream. And OF the ice cream brands, I'd think Eddy's has enough cache to live a bit longer than something as old fashioned and plain as Dolly Madison.

[Jason Perlow]

True, but these are things that can be sold off separately from their baking operations.

[jhlurie]

Bought some Devil Dogs at the supermarket today JUST in case...

[Ocean_islands]

I think they need to come out with a whole-wheat twinkie with organic soy cream filling, don't you?