Pa. Offers $1M Loan To Troubled Tastykake Maker
HARRISBURG, Pa. (AP) — Gov. Ed Rendell says the state is prepared to offer the financially troubled manufacturer of snack foods line Tastykakes a $1 million loan.
Rendell said at a news conference Tuesday that Philadelphia-based Tasty Baking Co. hasn’t yet taken him up on the offer because it’s a portion of what they will need.
The company announced last week that several factors led it to consider its options, including a potential merger or sale.
Its statement said the company “is currently experiencing extremely tight liquidity.”
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