Hostess Brands has filed its plans to emerge from bankruptcy but the future of the maker of Twinkies and Wonder Bread is still very much at risk.  The iconic company's reorganization plan, filed Wednesday, October 10, 2012 with the federal bankruptcy court in New York, calls for an 8% cut to employees' wages, a reduction in health benefits, and a freeze in pension plan payments for more than two years. Under the plan, the company will also not pay $2 billion it owes to many of its creditors, including vendors.

Hostess Brands has filed its plans to emerge from bankruptcy but the future of the maker of Twinkies and Wonder Bread is still very much at risk.
The iconic company’s reorganization plan, filed Wednesday, October 10, 2012 with the federal bankruptcy court in New York, calls for an 8% cut to employees’ wages, a reduction in health benefits, and a freeze in pension plan payments for more than two years. Under the plan, the company will also not pay $2 billion it owes to many of its creditors, including vendors.

Grocery Chains Start Pre-Release Sales of Twinkies

In the sweet portion of the “bittersweet” saga of former confection giant Hostess Brands Inc., Walmart, Kroger Stores, and Albertsons have started reselling the iconic snacks days ahead of the Monday, July 15 official release date.

Walmart is selling the first orders in a box entitled “First Batch”. The box is said to be a collector’s item.

The return of Twinkies marks the first time the general public has been able to purchase them since they went off store shelves in November. Hostess Brands Inc. was in dire financial straits and asked concessions from their unions in order to keep the company alive.

The teamsters agreed to concessions but workers at the 33 Hostess bakeries felt they had made enough concessions over the past years and rejected the company’s final offer.

It turned out to be unwise as the workers effectively decided that 100% of nothing was better than 80% of something. Hostess Brands Inc. went bankrupt, all 18,000 employees were terminated, and only one bidder turned up to buy the company in the liquidation sale.

However, the investors have started turning out the treats from existing bakeries in their possession. Not a single bakery that was closed has been reopened.

Source :
Walmart Twinkies are the fresh, first batch release
http://wtvr.com/2013/07/12/walmart-twinkies-are-the-fresh-first-batch-release/

Twinkies Saved By Apollo
http://gothamist.com/2013/03/12/twinkies_saved_by_apollo.php