Hostess Threatens To Liquidate If Workers Continue Strike
By aaroncynic in News on Nov 15, 2012 10:00PM
The maker of Twinkies, Ding-Dongs and Ho-Hos has threatened to liquidate its assets if striking Hostess employees don't return to work by the end of the business day. According to the Chicago Tribune, the confectionery giant said it would file a motion with U.S. Bankruptcy Court in New York so it can sell its assets if employees don’t return to work by 5 p.m. Workers went on strike on Nov. 9 over benefits, pay and outsourcing. Hostess first responded by shutting the doors to three bakeries.
Spokesperson Lance Ignon told ABC7 “We have a hearing scheduled for Monday to go before the judge. If the judge were to approve that motion on Monday, then we will begin liquidation on Tuesday.” The company filed for bankruptcy in January.
Frank Hurt, a spokesperson for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union said in a statement:
“Hostess Brands is making a mockery of the labor relations system that has been in place for nearly 100 years. Our members are not just striking for themselves but for all unionized workers across North America who are covered by collective bargaining agreements.”