Tastykake has delayed the filing of its annual report with the SEC because its accountants and lawyers are focusing all of their energy on trying to sell the company. Tasty Baking has been restructing its debt agreements since early January, partly as a result of problems they're having with their new production facility at the Philadelphia Navy Yard but also because of the downstream effects of the bankruptcy of the company that owns SuperFresh, A&P and Pathmark. As part of the restructing deal, Tasty Baking agreed to try to find a buyer by June who could pay the bills.
Tastykake promises to file the annual report within 15 days, and says it will include a warning from its auditors that the company may not be able to continue as a going concern.
I was snowbound in Fargo, ND, about ten years ago. The ticket clerk who took care of me (and very competently also) was a transplanted Philadelphian who told me that the only thing she missed from Philly was Tastykakes.
I sent her a box of assorted Tastykakes when I got home (Fargo is a very small airport). In return I got one of the nicest thank yous I've ever gotten.
Posted by: Frank | March 28, 2011 at 06:30 PM
My mom used to ship me boxes here in CA when I was in graduate school :-(. Tastykake could kick Hostess's ass around the block any day of the week. Chocolate Krimpets FTW!
Posted by: Penny Dreadful | March 30, 2011 at 12:28 AM
We used to wait for my St. Joe's Prep alum roommate's care packages to pillage the Tastykakes and Sweetszel' Spiced Wafers.
Posted by: Davis X. Machina | April 01, 2011 at 11:22 PM