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The following is an update on the not-so spectacular demise of an American icon.
While production had remained shut down since Friday, it now appears the company (and 18,500 jobs) are headed for liquidation.
Hostess Brands Inc. announced today that a mediation today with the Bakery, Confectionary, Tobacco and Grain Millers Union was unsuccessful. The Company will have no further comment until a hearing scheduled for tomorrow at 11 a.m., EST, before the U.S. Bankruptcy Court for the Southern District of New York.
Unless some yet-to-be named conglomerate steps in to buy the bankrupt banker, along with its liabilities–or Barack Obama nationalizes the Twinkie industry–it looks like this is the end for Hostess and 18,500 mostly-union jobs.
success story written into the annals of union history.
“Truth isn’t mean. It’s truth.”
Andrew Breitbart (1969-2012)