Posted by: freshbakednews | January 15, 2011

Tastykake Lives! (for now)

For those of you who aren’t from the Philadelphia area you may not have heard that a prominent baker, the Tasty Baking Company (makers of Tastykake) is in trouble.  In May Wish-Cake mentioned the company’s move to a new facility here.  The company, started in 1914, is quite an employer and fabric of the community.  Due to declining sales, increased flour costs and an expensive new facility the company owes lots of money.  The company was recently given 6 months to figure out how to pay back the millions of dollars.  Speculation is that the company will try to sell, merge with another company or re-finance its debt.  Let’s hope for a win for the people of Philadelphia. Losing this company would be sad for many many reasons.  Keep your eyes open for the final decision around June 30, 2011.  Our fingers are crossed.