Bloom Berg

Twinkie Maker hostess to Shut Down After engage stewardess Brands Inc., the bankrupt maker of Wonder bread and Twinkies, body politic it lead fire more than 18,000 useers and liquidate after a ten- require crippled operations. We deeply regret the necessity of todays decision, but we do not have the monetary resources to live on an extended nationwide strike, Chief executive director Officer Gregory F. Rayburn verbalise today in a statement. married couple members crippled the companionships ability to produce and regress products at duple facilities, and bakery operations have been hang up at all(a) plants, the troupe state in the statement. Rayburn said air hostess depart dismiss virtually of its 18,500 employees and focus on merchandising assets. Shipments of bread, pungency cakes and other products allow continue until supplies run out, he said. The Bakery, Confectionery, baccy Workers and Grain Millers International Union went on strike Nov. 9 after a loser judge in  uninfected Plains, New York, imposed contract concessions that 92 share of the marriage ceremonys workers rejected. Union Statement The crisis set about hostess Brands is the result of close to a decade of financial and operational mismanagement that resulted in two bankruptcies, mountains of debt, declining sales and woolly market share, the union said yesterday in a statement.

The company attempted to subside the mess by attack the companys most valuable asset -- its workers. Hostess closed three of its 36 plants permanently Nov. 12, blaming the strike. The company said it determined l ast nighttime that not enough employees had! returned to work to restore normal operations. The wind-down will close the remaining 33 bakeries and 565 distribution centers, Hostess said. Hostess today filed a consummation asking the judge overseeing its bankruptcy to hold a Nov. 19 hearing to approve the companys request to closed(a) down. The company, based in Irving, Texas, filed down the stairs Chapter 11 for a second time in January, itemization assets of $982 million and liabilities totaling...If you fatality to get a full essay, come out it on our website: OrderCustomPaper.com

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