Hostess Uses Last of Nine Lives, Moves to Final Shutdown

Investing

Published: November 20, 2012 8:38 pm

Last Updated: November 21, 2012 5:25 am

Hostess management has tried nearly every reasonable means to keep the baker of Twinkies open, or so they say. Whether the claims are true or not, a short burst of optimism brought on by a decision to move to mediation between unions representing some of Hostess’ workers has failed.

The Wall Street Journal reports:

Hostess Brands Inc. will continue down the path to a full liquidation after a last-ditch mediation session with its striking bakers’ union failed to save the Twinkie maker.

The company, which has already shuttered its plants and sent its workers home, will push ahead with its bid to embark on a shutdown that will leave about 18,500 people unemployed and its iconic brands either in the hands of new owners or gone forever, a company spokesman said Tuesday evening.

Douglas A. McIntyre

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: are you ahead, or behind on your retirement goals?

Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With SmartAsset’s free tool, you can connect with vetted financial advisors in minutes.

Why wait? Click here to get started today!