NEW YORK (abc24.com) - A bankruptcy judge will allow Hostess Brands Inc. to liquidate its assets after negotiation efforts between the company and its bakers' union failed.
The renewed talks between Hostess and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) came after the company declared last week it would wind down its business and start selling off its assets.
The Irving, Texas based company filed a motion with the U.S. Bankruptcy Court on November 16 to close its business and sell all its assets, stating a nationwide strike "crippled the Company’s ability to produce and deliver products at multiple facilities."
Hostess employs more than 18,000 across the country, including about 250 in Memphis.
