The Wonder bread bakery employs about 150 workers. Production for the facility will be transferred to other bakeries in the region. The company estimates that charges incurred in connection to the closing will amount to about $5 million, including about $1.5 million in severance charges, about $2 million in asset impairment charges and about $1.5 million in other charges. IBC also estimates that about $3 million of such costs will result in future capital expenditures.
“We appreciate the hard work of all of our employees in the North Central region,” Tony Alvarez, IBC’s chief executive officer, said. “While it’s painful to close any facility, this move will help preserve the long-term health of Interstate Bakeries.”