Posted on 11/29/2012 8:18:43 PM PST by 2ndDivisionVet
New York - Hostess Brands got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its roster of snack cakes to find a second life with new owners - even as 18,000 jobs will be wiped out.
The company said in court that it's in talks with 110 potential buyers for its iconic brands, which also include Ding Dongs and Ho Hos. The suitors include at least five national retailers, such as supermarkets, according to a financial adviser for the company. The process has been "so fast and furious," Hostess hasn't been able to make the calls seeking buyers it previously intended, said Joshua Scherer of Perella Weinberg Partners...
(Excerpt) Read more at cbsnews.com ...
Not sure if that was supposed to change my mind but it does not. It seems times have changed since the last time I dealt with a trustee overseeing a company reorganization. Admittedly it has been a long time.
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