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September 5, 2004

Twinkies on the brink


Last week, Twinkie-maker Interstate Bakeries Corp. delayed filing its annual financial report for the second time, causing its stock to drop more than 42% on speculation about the company's ongoing viability and possible bankruptcy.


Twinkies bankrupt?

How can this be?

The company now has until September 26 to file its annual report or trigger a cascade of events that could well plunge it into deep cream filling and Chapter 11.

Problems with data entry into the company's new computer system - am I the only one who hears a dog burping after eating someone's homework, way in the background? - are being blamed for the delayed filing.

Also hurting Interstate are consumers jumping onto the low-carb bandwagon.

Interstate's other brands, among them Wonder Bread and Marie Callender's, are also suffering.

Shares of Interstate closed at $4.56 on the New York Stock Exchange, a new all-time low.

The company's 52-week high was $16.88 in March, just six months ago.

When it rains, boy, it sure makes for soggy Twinkies.

September 5, 2004 at 03:01 AM | Permalink


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