Hostess Bankruptcy Judge Moves Forward With Liquidation After Mediation Fails

The judge overseeing the bankruptcy of Hostess Brands Inc., maker of Twinkies and Wonder Bread, has approved the company's plans to wind down after it failed to come to an agreement with its bakers' union. Hostess said it will retain about 3,200 employees "to assist with the initial phase of the wind-down," meaning about 15,300 workers will lose their jobs starting Wednesday. "The entire process is expected to be completed in one year," the company said in a statement. "The wind-down was...Full Story
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