Business Case Studies, Managing in Troubled Times Case Study, A&M's Turnaround Formula, Interstate Bakeries Corporation

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Managing in Troubled Times Case Study

Case Title:

A&M's Turnaround Formula for Interstate Bakeries Corporation: The Testing Times

Publication Year : 2004

Authors: shalini, Sumit Kumar Chaudhuri

Industry: Food, Diary and Agriculture Products


Case Code: TRT0009

Teaching Note: Not Available

Structured Assignment: Available

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The largest bakery company in the US, Interstate Bakeries Corporation (IBC) had been operating successfully with popular brands like Wonder Bread and Hostess cakes, since the late 1920s. However, IBC had been reporting stagnated sales and its net income had been falling since 1999 owing to competition from manufacturers of low-carb food products like Atkins, and increased operational costs. In 2004, the company filed for bankruptcy reporting a debt of $1.320 billion.

Pedagogical Objectives:

  • To discuss the factors leading to IBCs tryst with bankruptcy
  • To discuss the challenges faced by A&M in turning around IBC.

Keywords : Interstate Bakeries Corporation; Alvarez & Marsal; A&M's turnaround formula; Tony Alvarez; Restructuring / Turnaround Strategies Case Study; Wonder Bread; Low carb food products; Atkins; Extended shelf life; Interstate Bakeries filing for bankruptcy; Home Pride carb action; Hostess twinkies


  • Introduction
  • IBC's growth
  • IBC's tryst with bankruptcy
  • A&M's turnaround formula with IBC: the testing times

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