Twinkies maker gets approval to wind down
Maritime Union Port Chalmers Dunedin Branch, Dunedin Fairness at Work Rally, 20 October 2010 (photo by Victor Billot) by Maritime Union of New Zealand
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
NEW YORK Hostess Brands, the maker of Twinkies Ding Dongs and other snacks, has received approval from a bankruptcy court judge to wind down its business and sell all of its assets. The ruling came Wednesday after Hostess failed in last-ditch negotiations to end a strike by its second-largest union. Hostess blamed the company's collapse on striking employees belonging to the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union. "Hostess Brands is winding down the company after a nationwide strike initiated by the BCTGM that commenced on November 9 crippled its operations at a time when the company lacked the financial resources to survive a significant labor action," the food giant said in statement. The bakers union denies responsibility for sinking Hostess.
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CEO Gregory Rayburn
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Source Webpage: feeds.cbsnews.com
Bankruptcy court gives green light to Hostess Brands to liquidate its business and sell off its assets
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Twinkies maker gets approval to wind down
Webpage Provided Keywords:
- bankruptcy
- confectionery
- ding dongs
- ho hos
- hostess
- hostess brands liquidation
- mediation
- the bakery
- tobacco workers and grain millers international union
- twinkies
- zingers
Source Webpage: feeds.cbsnews.com
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