We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Interstate Says Burkle Plan Fails To Rise

Law360 (December 18, 2007, 12:00 AM EST) -- Interstate Bakeries Corp. has blasted the reorganization plan recently proposed by billionaire Ron Burkle's investment firm and the International Brotherhood of Teamsters, maintaining that the plan does not address a number of critical issues the bakery giant is currently facing.

On Friday, the bankrupt maker of Wonder Bread and Twinkies indicated that the Teamsters and Yucaipa's recent proposal does not constitute a qualified bid due to various “deficiencies” in the document.

"We are pleased that Yucaipa and the Teamsters continue to express interest in the company's...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.