New Source: JusticeNewsFlash.com
11/19/2012 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Texas – Twinkie maker Hostess Brands has requested permission to liquidate its assets following a labor strike. As reported by the Chicago Tribune, the maker of Twinkies and other popular items made the request of a bankruptcy judge citing the strike caused it to have to go out of business.
Gregory Rayburn, Hostess’ chief executive, is quoted in the report as saying in a statement, “We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike.”
If the request is granted, approximately 18,500 workers will reportedly be laid off.
Many think that the plant’s popular products will find a new home and continue to be sold on the market after being purchased by other investors or makers of baked goods.
Justice News Flash delivers the latest in Texas business law news.
Media Information:
Address: 215 South Olive Suite 300 W. Palm Beach FL 33401
Phone: 866-598-1315
Url: http://justicenews.visionsmartnews.com/twinkie-maker-says-it-cant-be-saved-after-labor-strike_8192.html News Source: JusticeNewsFlash.com – Press Release Distribution
