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 pension fund for a Hostess Brands union has hired an investment bank to represent workers and pensioners as the maker of Twinkies and Wonder Bread sells off its brands.
A newspaper is reporting that Flowers Foods and Bimbo are emerging as bidders for the bread brands of Hostess, which in the midst of a bankruptcy court liquidation of its assets.
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.
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.
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.
The company that makes Twinkies, Wonder bread and Ding Dongs says it’s making a final offer to workers to accept cost-cutting before it asks a bankruptcy court to impose the cuts.
Hostess Brands named a new CEO on Friday to steer the company through its Chapter 11 bankruptcy reorganization.
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