Hostess Seeks Fourth Extension of Sole Right to File Plan
Hostess Brands Inc., the bankrupt maker of Wonder bread and Twinkies, asked for a fourth extension of its exclusive right to file a bankruptcy plan and solicit creditor votes.
“The current exclusive filing period is set to expire before the auctions for the five major sales currently before the court will be conducted and the proceeds from such sales will be determined,” Hostess said today in a filing in U.S. Bankruptcy Court in White Plains, New York, requesting an extension through July 11.
The company said officials “simply do not know at this time whether their goal of confirming a plan of liquidation might be achieved.” Initial bids for the assets total more than $850 million.
Hostess sought court protection in January 2012 for the second time, less than three years after completing a restructuring that spanned 4 1/2 years. It listed assets of $982 million and debt of $1.43 billion in that filing.
The new case is In re Hostess Brands Inc., 12-22052, U.S. Bankruptcy Court, Southern District of New York (White Plains). The prior bankruptcy was In re Interstate Bakeries Corp., 04- 45814, U.S. Bankruptcy Court, Western District of Missouri (Kansas City).
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