Wednesday, May 30, 2012

Report: Hostess Liquidation Could Result in Shutdowns, Idaho Layoffs

Posted By on Wed, May 30, 2012 at 1:23 PM

Texas-based Hostess Brands, which filed for Chapter 11 bankruptcy in January, sent out notices to each of its 18,500 U.S. employees this month, warning of layoffs at facilities across the country, including Idaho.

The New York Post reported earlier this month that the maker of Twinkies and Ding Dongs was "inching closer to liquidation," after creditors rejected recent proposals to buy the company out of bankruptcy. Judge Robert Drain warned that "the company was running out of time to present a reorganization plan," forcing the company to mail the notices to its workers, "warning them that it may liquidate in the next two months."

The notices warned of possible plant closures, including nine Idaho facilities, which could see 78 layoffs.

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