<p>Interstate Bakeries Corp., maker of Twinkies and Wonder Bread, said Wednesday it plans to close its plant in Miami and streamline operations throughout Florida and Georgia, costing about 600 jobs.</p><p>Closing the plant will cost 480 jobs. Consolidating routes, depots and thrift stores in the two states will eliminate another 120 positions, officials said. Florida and Georgia markets would continue to be served by bakeries in Orlando, Jacksonville and Columbus, Ga.</p><p>The bankrupt company says the changes, expected to be completed by July 15 and requiring bankruptcy court approval, are part of the company's search for ways to cut costs and increase profits.</p><p>"We regret the difficulties for employees directly impacted by the consolidation in Florida," CEO Tony Alvarez said in a statement. "In the long run, we are doing what we must to revitalize the company, preserve jobs and maximize the value of the enterprise for all our constituencies."</p><p>Alvarez is co-chief executive of Alvarez & Marsal, a turnaround firm brought in to manage the company after it filed for Chapter 11 protection last September.</p><p>Interstate Bakeries said it expects the consolidation will cost $10 million in severance charges and devaluing of assets.</p><p>Alvarez said the company is in the midst of evaluating all 10 of its regional operations and once that is complete, the company will develop a future business plan and marketing strategy.</p><p>"Only after that is accomplished will the company begin to develop a plan of reorganization that will permit it to emerge from bankruptcy protection," he said.</p><p>The company has continued to lose money following the bankruptcy filing and is plagued by accounting problems that have prevented officials from providing reliable financial reports going back to November 2003. For the quarter ending March 5, Interstate Bakeries reported a 1.7 percent decline in sales from a year ago to $1 billion and a cash balance of $95.4 million.</p><p>Interstate Bakeries added that it is disputing claims in bankruptcy court that, because of other layoffs and plant closures, it has withdrawn from more than 40 employee funds. The company warned that if the court determines that it has, it could be forced to pay up to $530 million to cover its share of the fund's liabilities.</p>
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