IBC: bankruptcy exit funds delayed

Kansas City / MO. (bw) Interstate Bakeries Corporation (IBC), bankrupt maker of Wonder Bread and Hostess Twinkies, has not nailed down financing necessary for the company to exit bankruptcy more than a month after getting a judge´s approval. The Kansas City-based company said that it´s still negotiating with lenders. IBC also said it could not be sure that it would get the deal done. Agreements providing the almost 600 million USD in post-bankruptcy financing expire February 09. A spokesman for IBC said that if it can not reach a deal by then and can not get its lenders to extend the deadline, the company would likely have to begin liquidating its assets. IBC has been under Chapter 11 protection from creditors for more than four years.