Interstate Bakeries Emerges From Chapter 11

After nearly 4-1/2 years, Interstate Bakeries Corporation, the maker of such national brand name products as Wonder and Hostess, emerged from Chapter 11 on February 3. Skadden represented Interstate in the restructuring. The reorganization plan, confirmed just 61 days after it was filed, included several financings that were complicated by disruptions in the financial sector. Interstate's restructuring represents one of the first major reorganization cases to emerge since the demise of Lehman Brothers last September.