Nothing Sweet About Hostess Closure: Workers
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” CEO says
linois' Schiller Park Hostess location is closing and about 1,400 workers there are out of a job.
Hostess Brands, the makers of Twinkies, Ding Dongs and Wonder Bread, is going out of business after striking workers failed to heed a Thursday deadline to return to work, the company said.
The Schiller Park bakery is one of 33 being closed along with 65 distribution centers, about 5,500 delivery routes and 570 outlet stores as part of a company "wind down." Operations have been suspended at all plants.
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn said in announcing the firm had filed a motion with the U.S. Bankruptcy Court to shutter its business. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”
The closure will include the sale of Hostess, Drakes and Dolly Madison as well as Wonder, Nature’s Pride, Merita, Home Pride, Butternut and Beefsteak.
Illinois workers said they e
Source
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” CEO says
linois' Schiller Park Hostess location is closing and about 1,400 workers there are out of a job.
Hostess Brands, the makers of Twinkies, Ding Dongs and Wonder Bread, is going out of business after striking workers failed to heed a Thursday deadline to return to work, the company said.
The Schiller Park bakery is one of 33 being closed along with 65 distribution centers, about 5,500 delivery routes and 570 outlet stores as part of a company "wind down." Operations have been suspended at all plants.
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn said in announcing the firm had filed a motion with the U.S. Bankruptcy Court to shutter its business. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”
The closure will include the sale of Hostess, Drakes and Dolly Madison as well as Wonder, Nature’s Pride, Merita, Home Pride, Butternut and Beefsteak.
Illinois workers said they e
Source