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Bankrupt Twinkie-Maker Sells California Land to Target

Kansas City, Mo., Interstate Bakeries Corp., maker of the Wonder Bread and Twinkies brands, has sold 9.8 acres in San Pedro, Calif., to Target Corp. for $18.7 million.

The site was the longtime home of some Little League baseball fields, but, according to Interstate Bakeries, the company had no choice but to sell the land to benefit creditors in its Chapter 11 bankruptcy case.

The Little League has been granted the use of the fields through the 2006 season, and Interstate Bakeries received approval from the U.S. Bankruptcy Court to contribute $250,000 toward the league’s relocation to a new site.

© 2014