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Business Briefing / FOOD

Bakery firm files plan to reorganize

October 07, 2008|From Times Wire Services

Interstate Bakeries Corp., the bankrupt maker of Hostess Twinkies, filed a new plan to reorganize its operations and exit court protection.

The new plan was filed after creditors dropped their opposition in exchange for $5 million and a chance to earn more money if the company rises in value, Interstate said.

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