Interstate Bakeries Corporation (fka IBCIQ)

[Phisherman]

Interstate Bakeries had $19.3 mln cash in December
01/28 08:17 AM
CHICAGO, Jan 28 (Reuters) - Interstate Bakeries Corp (IBCIQ:$0.0390,$0.0040,11.43%) , which has been operating under bankruptcy protection since September 2004, said on Wednesday that it had $19.3 million in cash as of Dec. 13, 2008.
The bankrupt maker of Wonder Bread and Twinkies snack cakes filed its monthly operating report after it said on Monday that it had reached a deal with GE Capital Corp that should allow it to emerge from bankruptcy.
The company said it had borrowed $110.9 million under its $309.0 million debtor-in-possession credit facility as of Dec. 13. The amount of the credit facility available for borrowing was $49 million as of Dec. 13, Interstate said.
Interstate said it had a net loss of $11.3 million and sales of $201.8 million for the four weeks ended Dec. 13.
On Monday, Interstate officials said they had reached "an agreement in principle with GE Capital Corp., a unit of General Electric Co (GE:$13.52,00$0.46,003.52%) on key terms for a revised asset-based revolving credit financing facility. [ID:nN26411765]
(Reporting by Jessica Wohl, editing by Dave Zimmerman)