Hostess Brands said Tuesday evening that a last-ditch mediation session with its bakers' union over a new contract imposed in bankruptcy court had failed, bringing the company closer to liquidation.
Hostess said in a brief statement that the mediation session "was unsuccessful," and that it had no further comment ahead of a hearing scheduled for Wednesday morning in bankruptcy court, where it has requested permission to liquidate.
Twinkie-stuffed turkey. This is a thing that exists. In a restaurant. That people pay for. On purpose. With money. That they earned.
Hostess Brands and a key union agreed Monday to try to mediate their dispute - an unexpected development that could spare the company from permanently shutting down.
The Bakery Workers union, which represents 5,000 of the 18,500 employees at the maker of Twinkies and Wonder Bread, went on strike on Nov. 9. The company had imposed paycuts and other concessions opposed by the union's membership.
Casey Barber, a food writer in Clifton, New Jersey, says many Hostess products and their associated feelings of nostalgia are easy to conjure up in a home kitchen, but there's one thing she's never been able to replicate: "There's just a fakeness about them, a teeth rattling extra super-sugaryness that comes with the high fructose corn syrup that you're not going to get if you make a Twinkie or Devil Dog at home."
She made these raspberry "Zingers" - a snack cake sold under both the Dolly Madison and Hostess brand names - in October. The recipe is in her forthcoming book,"Classic Snacks Made from Scratch."
Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc., Fortune has learned.
The proposal would be to operate Hostess as a going concern, including reopening the shuttered factories and continuing union representation of Hostess workers.
Hostess Brands – the maker of popular baked goods such as Twinkies, Ding Dongs and Wonder Bread – announced it is asking a bankruptcy court for permission to shut down, blaming a strike by bakers opposed to a new contract.
This weekend, we'd like you to bake your own Hostess treat. Please send us a photo of your homemade creation along with the recipe. And of course, tell us how it tastes! (If you're not the baking type, tell us about your fondest memories of the iconic snacks.)
Hostess Brands - the maker of such iconic baked goods as Twinkies, Devil Dogs and Wonder Bread - announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them.
The closing will result in Hostess' nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees.
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.
Twinkie-maker Hostess Brands said Monday that it could go into liquidation if its bakers continue striking in protest against a new contract imposed in bankruptcy court.
The company announced Monday that it was closing bakeries in Seattle, St. Louis and Cincinnati in response to the strike, cutting 627 jobs in total. The bakers' strike, which began last week, continued Monday at around 24 of Hostess' 36 plants, and Hostess CEO Greg Rayburn said the firm could close more bakeries or even move into liquidation if workers don't return to their jobs soon.