Daily News: November 15, 2012

Hostess: Company Could Liquidate If Strike Continues

Reuters has reported that Hostess Brands will go before U.S. Bankruptcy Judge Robert Drain in order to ask to liquidate its operations if workers, who are currently striking, do not return to work by the end of the day today.

The company, which has been in a battle with the union that represents about one third of its employees, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, needs the workers to return to work in order to resume normal operations, the article said.

The striking workers are protesting recent pay cuts that the bankruptcy court recently approved. Hostess said if the liquidation is approved, it would begin to close operations around November 20.

To read the Reuters article in its entirety,

Previously on abfjournal.com:

Hostess Brands Files Plan of Reorganization, Thursday, October 11, 2012