Hostess Uses Last of Nine Lives, Moves to Final Shutdown

Hostess management has tried nearly every reasonable means to keep the baker of Twinkies open, or so they say. Whether the claims are true or not, a short burst of optimism brought on by a decision to move to mediation between unions representing some of Hostess' workers has failed.

The Wall Street Journal reports:

Hostess Brands Inc. will continue down the path to a full liquidation after a last-ditch mediation session with its striking bakers' union failed to save the Twinkie maker.

The company, which has already shuttered its plants and sent its workers home, will push ahead with its bid to embark on a shutdown that will leave about 18,500 people unemployed and its iconic brands either in the hands of new owners or gone forever, a company spokesman said Tuesday evening.

Douglas A. McIntyre


Filed under: 24/7 Wall St. Wire, Bankruptcy Tagged: featured

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AL CONFER

Well! The unions ought to be real happy with the outcome of another disastrous round of the unions telling the owners what they will accept for their wages and benefits. SORRY! The unions have ruined their own lives with ever stupid demands that companies can no longer accept. Unions are one of the reasons this country has been losing job after job and being out sourced. I used to work in a state that had unions and now that state has virtually no jobs. No company is going to put up with employees demanding what they are willing to work for. The company tells you what the job pays and if you don't like it, there isn't any anchor on your rear ends. Go elsewhere, oh, you already did that did ya? Now losers, when you can't pay for your house and car, just remember your union demands put you on the street.

December 17 2012 at 10:51 PM Report abuse rate up rate down Reply