Yucaipa Pops New Interstate Plan Into The Oven

Law360 (December 14, 2007, 12:00 AM EST) -- Convinced that Interstate's reorganization proposal is only half-baked, billionaire Ron Burkle and the International Brotherhood of Teamsters have followed through on their promise to present a rival restructuring plan that aims to give creditors more of a return on their investment.

On Thursday, the Teamsters and the Burkle-led investment firm, Yucaipa Cos., revealed that they had submitted a preliminary proposal for the reorganization of Interstate Bakeries Corp., tossing their hat into an increasingly crowded ring.

“The proposal represents a collaborative effort by Yucaipa and the Teamsters...
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