Tastykake Needs More Time to File Earnings

Company said in January that financial problems could force a merger or sale

Monday, Mar 28, 2011  |  Updated 11:38 AM EDT
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Tastykake Needs Time

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The maker of Tastykakes have asked the Securities and Exchange Commission for more time to file its annual earnings report while it seeks to sell or seek new financing for the struggling company.

Tasty Baking requested a 15-day extension Friday for its fourth quarter and annual reports.

The Philadelphia-based maker of Kandy Kakes and Krimpets announced in January that financial difficulties could force a merger or sale after a new $78 million production facility and warehouse failed to produce projected savings.

In Friday's filing, the company said its year-end earnings report will include information from an independent accounting firm “expressing doubt about the Company’s ability to continue as a going concern.”

Tasty Baking received about $6.5 million in public and private financing following its announcement of financial difficulties in January.
   

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