Twinkies-maker Hostess Brands gets green light to go into liquidation
November 22 , 2012
A U.S. bankruptcy judge has approved the liquidation of Hostess Brands, maker of some of the country's most popular food brands, including cream-filled sponge cake Twinkies.
Wednesday’s hearing was delayed from Monday to allow last-ditch talks with union officials. Those talks ended on Tuesday without a deal.
The first step of liquidation will see Hostess lay off about 15,000 of its employees.
However, Hostess' advisers are confident that parts of the business can be sold, with lawyers saying there had been a "flood of enquiries" about buying some of the brands.
The firm has been in trouble over recent years, emerging from bankruptcy protection in 2009 only to file again in January 2012.