Hostess To Shut Down After Failed Meditation
Just 24 hours after Hostess and the New York Bankruptcy Judge Robert Drain announced a sit down with strikers, the brand will in fact be going out of business.
According to Reuters, Hostess will ask Judge Drain to begin a ‘piece-meal’ liquidation. Hostess, which also makes Drake’s cakes and Wonder Bread believes that the strike slowed down business and the liquidation will help preserve what money is left in the company. While the news is sad (but comical) to some, people are buying what is left in stores of the bakery giant.
Don’t count Twinkes out just yet. Several companies, including Florida’s Sun Capital Partners are rumored to take over the Hostess. Will you miss your favorite snack? Read here to find out more about the end of Hostess.