Nov 20, 2012 No Comments ›› Infidel
Excerpted from FOX BUSINESS: Hostess Brands and one of its biggest unions failed to reach an agreement in private mediation Tuesday, the company told FOX Business. The move will likely pave the way for an ultimate liquidation.
A Hostess spokesperson said the company will have no further comment until a hearing at 11:00 a.m. ET in U.S. Bankruptcy Court.
Hostess, maker of Twinkies, Ding Dong’s, Ho Ho’s and Wonder Bread, announced last Friday it was going out of business amid a nationwide strike by its union employees. In a statement released Friday, Irving, Texas-based Hostess said it was shuttering 33 bakeries, 565 distribution centers, about 5,500 delivery routes and 570 bakery outlet stores in the U.S.