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.
The fate of deep-fried Twinkies on a stick, which originally debuted at the State Fair of Texas, is up in the air now that Hostess Brands plans to liquidate the company.
A bankruptcy court judge in New York is approving a request by Hostess Brands Inc. to begin winding down its operations.
The future of Twinkies is once again uncertain, after a judge ordered mediation between Hostess and its largest union did not produce a plan to save the company.
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.
Twinkie lovers can relax. The tasty cream-filled golden spongecakes are likely to survive and be on shelves again, even though their maker will be sold in bankruptcy court.
First Big Tex burned down, now another State Fair of Texas icon may be in danger…what will happen to Deep Fried Twinkies now that the Hostess Bakery is liquidating?
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 Brands Inc. is permanently closing three bakeries following a nationwide strike by its bakers union.
Irving-based Hostess Brands Inc.’s final contract offer to certain union members includes lowering wages and commissions by 8-percent in the first year of a five-year contract. The company is also considering the possible sale of its Merita brand.
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.