Governor Rendell may intercede to help Tasty

by Josh Sosland
Share This:

HARRISBURG, PA. — Days after Tasty Baking Co. said it was exploring strategic options to deal with financial difficulties, the outgoing governor of Pennsylvania has expressed interest in helping the company weather its problems. The Philadelphia Inquirer on Jan. 7 said Governor Ed Rendell would like the state to loan additional money to Philadelphia-based Tasty. “We are trying to find a way to keep Tastykake on its feet,” Mr. Rendell told The Inquirer. “It’s an important Pennsylvania company and a significant employer. We’d like them to stay out of bankruptcy.” Mr. Rendell, who will only remain in office until Jan. 18, said he has held discussions with Charles P. Pizzi, Tasty’s chief executive officer. On Jan. 5, Tasty disclosed that fourth-quarter financial results would not meet expectations and that the company was meeting with its lender in an effort to secure additional credit. The company also has engaged Janney Montgomery Scott to explore strategic options, including a possible merger or sale.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.