Hostess to Liquidate if Strikers Don't Return to Work
- OurStudio
- Nov 14, 2012
- 1 min read
Is this the end for Twinkies?
Hostess Brands said Wednesday that it will go into liquidation unless bakers striking in protest against a new contract imposed in bankruptcy court return to work by the end of the day Thursday.
"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Greg Rayburn said in a statement.
The liquidation would result in Hostess' nearly 18,000 workers losing their jobs. The bakers' union represents around 5,000.
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