Tastykake Troubles: Could it Be the End of an Era?

The old school commercial jingle sang it all: "Nobody bakes a cake as tasty as a Tastykake."

Indeed, to outsiders, Philadelphia may be known for things like the Liberty Bell and cheese steaks, but natives have had their own sweet secret for decades. And now, the beloved Tasty Baking Company- makers of the familiar Philly-based cake treats known as Tastykakes- has fallen on hard times.

In a press release issued today, Tasty Baking Co. CEO Charles Pizzi cited the impact of the recent bankruptcy filing of A&P and unanticipated operational challenges as part of the company's woes. The company's grim financial status could result in a merger or even the sale of the company.

Tastykake products have been a Philadelphia area tradition since 1914. The brand features goodies like packaged chocolate cupcakes, Peanut Butter Kandy Kakes and Butterscotch Krimpets, which- as a further tribute to the city- are sometimes boxed in Philadelphia Eagles' packaging.

The Tasty Baking Company has been very visible throughout the city, often doling out collectibles and treats at local events. And in 2004, the company joined forces with the Philadelphia Zoo to open The Tastykake Children's Zoo.

And if there's any doubt to how nostalgic some relocated Philly natives get for their Tastykakes once they move away, a quick check on eBay finds items such as Tastykake gift baskets, cream filled cupcakes and lemon pies for sale. Over at Amazon.com, boxes of Tastykakes are also for sale. Apparently there's a market for these things.

On the Completed Listings end, a 3-box package of Tastykakes recently sold on eBay for $19.97- a whopping markup, as the cakes often go on sale in local grocery stores for as low as $2.50 a box.

Meanwhile Philadelphia Mayor Michael Nutter thinks locals will still be able to enjoy their Krimpets and Juniors for many years to come. On the KYW Newsradio program "Ask the Mayor," Nutter said, "Tastykake is a part of the fabric of the city."