US: Last-Ditch Talks To Save Hostess Brands Fail
A final effort to save Hostess Brands has ended in failure, and the food maker confirmed that it will go ahead with plans to liquidate its assets. The company had held mediation talks with the Bakery, Confectionary, Tobacco and Grain Millers Union, but said they were “unsuccessful”.
The talks took place after a US bankruptcy court judge pushed the two sides to participate in the mediation, noting that laying off workers and liquidating its assets involved heavy costs. The group’s collapse is expected to result in more than 18,000 job cuts.
NamNews - Wednesday 21st November 2012