Hostess has already filed for Chapter 11 bankruptcy protection in January and since then trying to renegotiate its labor contracts in a bid to cut costs. But the talks fell apart, and last week one union went on strike.
This liquidation of Hostess marks an
end of 82-year-old company and lay off a large majority of its 18,500 employees. Company has survived an earlier Chapter 11 filing in 2004.
Sources nytimes.
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