Hostess Gets All Clear to Shutter, Lays Off 15K

     (CN) – About 15,000 Hostess employees lost their jobs before Thanksgiving after a federal judge approved a liquidation process that removes the threat of legal action.
     There are just 3,200 workers left to watch the unwinding of Hostess Inc., celebrated maker of Twinkies, Ding Dongs and Wonder Bread, according to the Los Angeles Times.
     U.S. District Judge Robert Drain in Manhattan approved the request to liquidate after mediation attempts with the workers’ union failed on Tuesday.
     Drain had ordered mediation after rejecting the company’s first bid for liquidation.
     Hostess claimed that time was of the essence so that it can take advantage of its outside brands, which could command $2.4 billion, the Associated Press reported.
     The company said it could no longer sustain operations amid the crippling strike of workers started by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union on Nov. 9.
     The union claims decades of mismanagement caused Hostess’ problems, and that its members had already made numerous concessions throughout the years.
     While Hostess will no longer produce Twinkies and its other popular snacks, the company plans on selling the brands to other vendors in liquidation.

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