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Tastykake Needs More Time To File Earnings Report

PHILADELPHIA (AP) — 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.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • William H Boyd

    I Am Sorry To HearThat Tasty Cake Is Leaving Philadelphia. Where They Were Was a Philadelphia Landmark. I Was Really Dhocked To Find Out That They are Gone. Now Since I Am In Florida And WhenI Do Go Home [West Philly] I Do Stock Up On My CupCakes, Kimpetsm. See My 21 Hour Trip Is Worth The Drive Just To Taste A Cupcake.

  • Bonnie

    I am in love with “limited edition” chocolate lovers all chocolate junior cake and can’t find it at my local Pathmark…I have called the customer service hotline and left my phone number but no one is calling me back. So sad!!!

    • MikeyZman

      I doubt you’ll hear anything back from them. The move to the new facility was a huge FAILURE and should never have happened. It looked good on the pencil pusher’s papers but in reality was the rapid hammering in the nails of this decaying coffin.

  • NS

    When is the Tastykake board going to wake up and fire Charles Pizzi for the incompetent mess he made out of the company?

    • MikeyZman

      It’s too late now for that. They should have never hired him in the first place. What experience does he have running a for profit or baking related company??

  • MikeyZman

    Nice Job Mr. Pizzi and his management did in destroying this company. They’ve already received their benefits in compensation (wages, bonuses, stock) and stick the employees and the Owner Operators on the Unemployment Line.

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