Interstate Bakeries gets extensions to exclusivity

By Jeff Pines

Washington, Jan. 19 - Interstate Bakeries Corp. obtained extensions to its exclusive right to file a reorganization plan and its exclusive right to solicit votes.

The Kansas City, Mo.-based bakery will have until July 19 to file a plan and until Sept. 16 to solicit votes. Interstate had asked the court to extend its exclusive period to file a plan to Sept. 19 and its exclusive period to solicit votes to Nov. 16.

Without the extension, the company's exclusive right to file a plan would have ended Jan. 20 and its solicitation period was due to expire on March 21.

In its paperwork requesting an extension, Interstate said weaknesses in its new financial reporting system led to accounting uncertainties and that it would need more time to iron the problems out.

Interstate filed for bankruptcy on Sept. 22, 2004. Its Chapter 11 case number is 04-45814.

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