One month after posting its largest profit since it filed for bankruptcy nearly two years ago, Interstate Bakeries has revealed that it took a step backwards in June, reporting losses of US$4.1m.
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For the four weeks ended 1 July, the Kansas-based maker of Twinkies and Wonder bread said revenues dropped by 17% from the previous month, down to $239m. In June 2005 Interstate posted revenues of $254.4m and losses of $9.1m.
The company has improved margins by streamlining operations with the closure of thrift stores, distribution centres and nine bakeries.
In May, the company had reported its second monthly profit since filing for bankruptcy in September 2004, with earnings of $5.8m.
