Hostess Brands Inc. today announced that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic brands and facilities. Bakery operations have been suspended at all plants. Delivery of products will continue and Hostess Brands retail stores will remain open for several days in order to sell already-baked products.
The Board of Directors authorized the wind down of Hostess Brands to preserve and maximize the value of the estate after one of the Company’s largest unions, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), initiated a nationwide strike that crippled the Company’s ability to produce and deliver products at multiple facilities.
I applaud their decision.
Don’t worry because this stimulus is going to kick in and start saving jobs ANY DAY NOW! Just keep hoping for that change…Posted by No apology on 11/17 at 04:03 PM
Mateo - Americans inability to see their feet, if in fact they cannot, has nothing to do with whether Hostess is baking Twinkies, or not.Posted by John Venlet on 11/18 at 10:07 AM