Interstate Bakeries to Shut Plant, Cut Jobs
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Interstate Bakeries Corp., the maker of Wonder Bread and Hostess cakes, plans to close a bread and roll bakery in Grand Rapids, Mich., by Dec. 3 and fire 160 workers.
Production from the bakery, which prepares bread and rolls under the Wonder, Butternut and Home Pride brand names, will move to Interstate plants in Ohio and Indiana, the company said.
Interstate had 34,000 employees as of May 31, according to a regulatory filing.
Interstate, based in Kansas City, Mo., has been closing bakeries and stores in the U.S. as it restructures to run more efficiently amid declining demand.
Shares of Interstate rose 62 cents to $15.50 on the NYSE.
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