Hostess Bankrupty: Goodbye Twinkies [Audio]
It’s looking like the end of an era, as a last ditch effort to strike a deal between Hostess brands and the bakers union has failed.
Hostess says it will move ahead with plans to liquidate the company.
A bankruptcy judge had asked the two sides to try one more time to reach an agreement, in hopes of saving more than 18-thousand jobs.
Hostess is expected to go back to court today.
Elton John is singing the blues in this parody song, “Goodbye Yellow Cake Rolls”:
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There’s a liquidation hearing set for Monday for Hostess Brands, the now-bankrupt maker of Twinkies, Ding Dongs, Ho Hos, and Wonder Bread.
The company filed a request last week, with the U.S. Bankruptcy Court in New York to liquidate; and then, suspended operations at all of its 33 U.S. plants.
The bankruptcy court action was taken, after employees went on strike. More than 18-thousand people will lose their jobs.
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