in_the_media

6ABC - January 14-15, 2011

Media Outlet: 

6ABC



Tasty Baking Co., the makers of Tastykake, was given a last-minute reprieve and will not have to make debt payments until at least the summer. The company also received millions of dollars in government aid. Still, the situation "is not promising," said Jonathan Scott of Temple's Fox School of Business. When the company announced that it was considering a potential merger or sale because of its $100 million debt load, Scott said, "What went through my mind is, I wasn't sure how much longer they had to remain as an independent company."