Getty Images
A last-ditch effort by Hostess to stave off liquidation via mediation with its bakers union has failed. Hostess will move ahead with plans to close its facilities and sell off its assets.
The Twinkie has lost its lifeline.
Hostess' stab at mediation with its bakers union has failed, the company said Tuesday. The Wall Street Journal reported that the company was planning to move ahead with plans to shut down all its plants and liquidate its assets.
That plan, which the company had announced days earlier in bankruptcy court, comes on the heels of a strike by the Bakery, Confectionary, Tobacco and Grain Millers Union and will leave more than 18,000 people out of work, a spokesman said Tuesday, according to the Journal.
A bankruptcy judge had asked the parties to head to mediation on Monday, but the president of the union had not been hopeful about its prospects and didn't attend the session. "I'm not too optimistic," he told the Journal on Tuesday.
Hostess will be back in the U.S. Bankruptcy Court for the Southern District of New York on Wednesday to pursue its liquidation plan, after its earlier efforts to restructure while under Chapter 11 protection.
It declined to comment further Tuesday night, saying additional news would have to wait until its return to bankruptcy court at 11 a.m. ET on Wednesday.
Get the latest headlines sent to your inbox!
Anda sedang membaca artikel tentang
Hostess to Liquidate After Failed Mediation
Dengan url
http://setanlawak.blogspot.com/2012/11/hostess-to-liquidate-after-failed.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Hostess to Liquidate After Failed Mediation
namun jangan lupa untuk meletakkan link
Hostess to Liquidate After Failed Mediation
sebagai sumbernya
0 komentar:
Posting Komentar