While Hostess Brands has placed the blame for its demise squarely on the shoulders of the Baker’s union, its boss says his members rejected the company’s final collective bargaining offer last year because they were convinced it had become "fatally...
The $1.75m in bonuses to be shared by bosses at Hostess Brands should they meet targets relating to the sell-off of its assets are “below market rates” and “completely routine”, says the now-defunct maker of Twinkies and Ding Dongs.
The bakers' union of Hostess Brands has asked the court overseeing the firm’s bankruptcy to appoint a Chapter 11 trustee to safeguard an orderly wind-down.
Twinkies maker Hostess Brands has got the green light from the bankruptcy court to force members of the union representing a big chunk of its staff to accept a deal they have overwhelmingly rejected.
Hostess Brands is seeking a legal means to force members of the union representing a big chunk of its staff to accept a deal they have rejected by an overwhelming majority, or says it will have no choice but to liquidate the company.
Hostess Brands has sent letters to its 18,500 employees warning of possible liquidation and job losses, after a federal judge ruled on Friday that the company could cancel all union contracts.
A major bakery workers union has hit out against Hostess Brands for its assertion that pensions obligations were a principal reason for its Chapter 11 bankruptcy filing, blaming 'ineffective executives' instead.
Wonder bread and Twinkies maker Hostess Brands has filed for Chapter 11 bankruptcy to allow it to restructure, but does not expect to stop producing or delivering any of its products during the process, the company said on Wednesday.
Rice bran ingredient and nutraceutical supplier NutraCea has emerged from Chapter 11 bankruptcy after just over a year – a move that allowed it to restructure and reduce overheads, the company has said.
Bankrupt US bakery group Interstate Bakeries Corporation (IBC)
yesterday announced that it is to close another bakery as it
continues its restructuring efforts in an attempt to get back on
track.
