Daily News: November 21, 2012

Hostess Brands’ Mediation With Bakers Union Fails

Hostess Brands Inc. announced that a mediation with the Bakery, Confectionary, Tobacco and Grain Millers Union was unsuccessful and failed to resolve the contact dispute between the two parties.

The company said it will have no further comment until a hearing scheduled for Wednesday, November 21 at 11 a.m. before the U.S. Bankruptcy Court for the Southern District of New York.

According to a related Bloomberg article, Hostess will ask for U.S. Bankruptcy Judge Robert Drain’s approval to shut the company down and liquidate its assets. The shutdown will affect about 18,500 jobs. The two parties met at the Jones Day law offices in New York, the Bloomberg article said, under the Judge Drain’s supervision.

To read the Bloomberg article in its entirety, click here.

Previously on abfjournal.com:

Hostess Brands to Enter Mediation With Bakers Union, Tuesday, November 20, 2012