{"id":7544,"date":"2012-11-29T14:50:10","date_gmt":"2012-11-29T20:50:10","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=7544"},"modified":"2012-11-29T14:54:26","modified_gmt":"2012-11-29T20:54:26","slug":"twinkies-may-not-be-gone-yet","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=7544","title":{"rendered":"Update: Twinkies Maker has Number Of Suitors"},"content":{"rendered":"

\"\"<\/a><\/p>\n

UPDATE:\u00a0
\n\u00a0\u00a0\u00a0\u00a0 NEW YORK (AP Nov 29, 2012) – It looks like we haven’t seen the last of the Twinkie.
\n\u00a0\u00a0\u00a0\u00a0 Hostess Brands says it’s in talks with 110 potential buyers for the product lines that it makes — including Twinkies, Ding Dongs
\nand Ho Hos.
\n\u00a0\u00a0\u00a0\u00a0 A financial adviser for the company said in bankruptcy court
\ntoday that the suitors now include at least five national
\nretailers. He says the buyers are “serious” and that they are
\nready to pay “substantial” amounts.
\n\u00a0\u00a0\u00a0\u00a0 The update on the sale of the brands came as Hostess looked for
\ncourt approval to give its top executives bonuses totaling up to
\n$1.8 million as part of its plans to wind down its operations.
\n\u00a0\u00a0\u00a0\u00a0 The company says the incentive pay is needed to retain
\nhigh-level company officials during the liquidation process, which
\ncould take about a year.
\n\u00a0\u00a0\u00a0\u00a0 Two of the executives could get additional rewards, depending on
\nhow efficiently they carry out the liquidation.
\n\u00a0\u00a0\u00a0\u00a0 The bakers union is asking the judge to appoint an independent
\ntrustee to oversee the liquidation. The company announced plans to
\nliquidate after the union went on strike earlier this month.
\n\u00a0\u00a0\u00a0\u00a0<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

The Associated Press – Twinkies won’t die that easily after all.
\nHostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the Irving, Texas-based company won’t go out of business just yet.<\/p>\n

The news came Monday after Hostess moved to liquidate and sell off its\u00a0assets in bankruptcy court citing a crippling strike last week.<\/p>\n

The bankruptcy judge hearing the case says that the parties haven’t gone through the critical step of mediation and asked the lawyer for the bakery’s union to ask his client, who wasn’t present, if he would agree to participate.
\nThe case is being heard by the U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

UPDATE:\u00a0 \u00a0\u00a0\u00a0\u00a0 NEW YORK (AP Nov 29, 2012) – It looks like we haven’t seen the last of the Twinkie. \u00a0\u00a0\u00a0\u00a0 Hostess Brands says it’s in talks with 110 potential buyers for the product lines that it makes — including Twinkies, Ding Dongs and Ho Hos. \u00a0\u00a0\u00a0\u00a0 A financial adviser […]<\/p>\n","protected":false},"author":3,"featured_media":7545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-7544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/7544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7544"}],"version-history":[{"count":5,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/7544\/revisions"}],"predecessor-version":[{"id":7590,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/7544\/revisions\/7590"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/7545"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7544"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}