Tomorrow is the first day of Spring and thanks to a court ruling today, Twinkies could be back on store shelves by Summer and you have the owners of Pabst Blue Ribbon Beer to partially thank!
The indestructible Twinkie appears to be one step closer to a comeback. Hostess Brands is close to announcing that it has picked two investment firms as the lead bidders for its Twinkies and other snack cakes.
Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners. Hostess Brands Inc. said in bankruptcy court Friday that it’s narrowing down the bids it received.
While thousands of employees for the now bankrupt Hostess Brands Inc. are being shown the door, executives with the company could soon be receiving close to $2 million in bonus pay.
Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won’t go out of business just yet.
Hostess announced Friday that the company will be going out of business. The snack food maker, based in Irving, is best known for treats like Twinkies, Ding Dongs and Wonder Bread.
It’s been less than a week since Hostess Brands workers went on strike, and they were given an ultimatum to get back on the job Thursday or else. But as the deadline came and went, no news came from the company on what the future had in store for the grocery store staple snack cake company.
Hostess has told Michigan officials that it could lay off all of its 381 employees at 20 locations in the state if the company liquidates as part of its bankruptcy restructuring.
Hostess Brands named a new CEO on Friday to steer the company through its Chapter 11 bankruptcy reorganization.