Hostess Brands Inc. will seek to liquidate the entire company if “enough” striking workers don’t return to work by 4 p.m. Thursday, the company said Wednesday.
Hostess, maker of such iconic brands as Wonder Bread, Twinkies and Ding Dongs, is responding to a strike that began Friday by the Bakery, Confectionery, Tobacco Workers and Grain Millers Union.
No bargaining talks were scheduled for Wednesday or today.
The company, based in Kansas City for many years when it was known as Interstate Bakeries, is in its second bankruptcy reorganization in eight years. It listed assets of $982 million against liabilities of $1.43 billion. A reorganization plan was filed Oct. 10.
“We simply do not have the financial resources to survive an ongoing national strike,” said Gregory F. Rayburn, the company’s chief executive.
( Ho Hos, Twinkies, Zingers, Ding Dongs, Sno Balls, Donettes, Chocodiles, Honey Buns...Collapse )
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