Hostess Brands Inc., a wholesale baker, is again preparing to file for Chapter 11 bankruptcy protection this week, The Wall Street Journal reported, citing people familiar with the matter.
This would be second court restructuring for Ripplewood Holdings-owned Hostess, which filed for bankruptcy almost two years ago and had emerged from it last September.
The company has three of its 36 regional bakeries located in Illinois, in Schiller Park, Hodgkins and Peoria.
Irving, Texas-based Hostess has arranged for about $75 million in debtor-in-possession financing to keep it afloat during bankruptcy proceedings, the sources told the paper.
Full story here: Twinkie, Wonder Bread maker Hostess nearing Ch. 11 bankruptcy