US baker Hostess Brands to wind up business
A national strike from workers has, the company said, forced it to wind up the business, which owns brands including Hostess and Twinkies.
Hostess Brands has won permission from the US Bankruptcy Court for the wind down of its business and the sale of its assets.
Hostess Brands has said last-ditch talks with union officials to try to resolve the dispute that has threatened the existence of the US baker have been "unsuccessful".
Hostess Brands today (19 November) agreed to last-ditch talks with union officials to try to resolve the dispute that has threatened the existence of the US baker.
US baker Flowers Foods has extended a US$500m loan facility, news that emerged as it was being linked as possible buyer of brands and assets owned by failed Twinkies owner Hostess Brands.
Hostess Brands, the iconic US baker that announced today (16 November) it is winding down operations, has indicated that it expects a mixed response to the planned fire sale of its assets.
Hostess Brands announced today (16 November) that it is winding down after a strike "crippled" its operations.
The word on Twitter has it that Hostess will be forced into liquidation today (16 November).
The failure of successive managers and owners - and not the workforce's decision to launch strike action - is the reason US baker Hostess Brands is facing possible liquidation tomorrow (15 November), union officials have insisted.
US baker Hostess Brands has said that if it is forced to liquidate the company it will be due to the actions of a "small minority" of striking workers.
US baker Hostess Brands has indicated it will liquidate the company tomorrow (15 November) if striking employees fail to return to work this evening.
The union representing Hostess Brands workers has insisted the US bakery group is "falsely claiming" the closure of three bakeries was the result of strike action.
US group Hostess Brands has said it will close three of its bakeries in response to strike action that has stopped production at the sites.
US baker Hostess Brands has warned it could be forced into liquidation after one of the unions representing its workforce went on strike this weekend.
US brands Twinkies and Wonder are so iconic they are known the world over, even in markets where the products are not sold. Yet despite having these cultural touchstones in its portfolio, US baker Hostess Brands has struggled over the last decade, entering Chapter 11 bankruptcy protection twice, most recently this month. Sam Webb looks at why this baking monolith has started to crumble.
Foundering US snack producer Hostess Brands today (11 January) announced it would continue to operate, despite filing for Chapter 11 bankruptcy protection.
US baker Hostess Brands has filed for Chapter 11 bankruptcy, the second time it has done so in its history.
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