Well Hostess; the Twinkies, Ding Dongs and Wonder Bread maker as of now was granted permission to fire 15,000 workers immediately and to begin negotiations with potential buyers, after a bankruptcy judge gave the okay! For the rest of the story click below..
“There’s an extreme amount of interest from many buyers,” said Hostess CEO Greg Rayburn.
The sour news came after the failure Tuesday of “eleventh-hour” talks between the 82-year-old junk food mainstay and the Bakery, Confectioner, Tobacco and Grain Millers Union.
Hostess began shuttering operations last week after workers walked off the job to protest executive pay. The company said the strike quickly snowballed into a death knell.Hostess plans to keep 3,200 employees for its wind-down process, which is expected to last several months. Half of those employees are union members. “We never want to fire people,” but the judge’s order means workers can take their pink slips to the unemployment line for benefits, Rayburn said.
Hostess said it will close 33 bakery plants, 565 distribution centers and 570 outlet stores.
Rayburn lamented the sad end to the beloved brand, saying “there are a lot of fingers to point all around.”
