Friday, November 16, 2012

Hostess, parent company of Merita Bread, going out of business

Hostess Brands says it is going out of business, closing plants that make Twinkies and Wonder Bread and laying off all of its 18,500 workers.

The Irving, Texas, company says a nationwide worker strike crippled its ability to make and deliver its products at several locations.

Hostess had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn’t return to normal levels by Thursday evening.

The privately held company filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade.
Earlier this week in downtown Orlando, workers at the Merita Bread factory were on strike after leaders with the Hostess company threatened to liquidate the company.

Hostess is the parent company of Merita.

Full article: http://cfnews13.com/ … ss_the_maker_of.html



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