KANSAS CITY, Mo. (AP) – A federal bankruptcy judge approved a $50 million loan to Interstate Bakeries Corp. on Thursday so the maker of Wonder Bread and Hostess Twinkies can continue operating for another month.

U.S. Bankruptcy Judge Jerry Venters said he will consider approving an additional $150 million in financing at a hearing on Oct. 21.

Attorneys for the nation’s largest wholesale baker said the company needed the money to pay its 32,000 employees and keep its bread and snack cakes rolling to customers.

Interstate Bakeries filed for protection from its estimated 500,000 creditors on Wednesday, saying it had $1.6 billion in assets and $1.3 billion in debt and other liabilities.

The company’s board also accepted the resignation of chief executive James Elsesser, replacing him with Tony Alvarez, who operates turnaround firm Alvarez & Marsal.

Interstate Bakeries blamed its failing on decreased sales, due in part to the popularity of low-carbohydrate programs such as the Atkins diet, a glut of baked goods in the market and high operational costs, including employee benefits and ingredient costs.

At Thursday’s hearing, the company’s lead bankruptcy attorney, Eric Ivester, said Interstate Bakeries put out whole grain and low-carb breads earlier this year, but the offerings came too late.

For now, he said, the company’s new management intended to reassure vendors, customers and employees of Interstate Bakeries’ continued viability.

“The first step is getting back to business as usual,” Ivester said.

The company also wants to bring back customers to white bread, which made up the biggest part of sales but has been hit hardest by the popularity of low-carb diets.

Company officials said the bankruptcy filing won’t affect Maine employees. Interstate Bakeries has 810 workers in Maine and 670 of them work in its Biddeford plant.