- When Hostess sold its snack cake business, the new owner said Twinkies may return to stores this summer, but the workers union whose strike Hostess cited as the cause of the company's bankruptcy has blasted the sale, saying it doesn't save "a single job."
- The aforementioned union, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, filed papers in court stating that purported buyers have each "affirmatively disclaimed any obligation even to 'consider' employing a single worker."
- Hostess' biggest union, the International Brotherhood of Teamsters, also filed paperwork which said the current situation, in which no bids would restore union jobs, was a "great tragedy."
From the article:
"... Hostess heads to court next Tuesday to seek court approval for several deals to sell its beloved brands, including Twinkies, Ho Hos and Dolly Madison. Those cake brands and several bakeries have a $410 million bid lined up from Apollo Global Management LLC ( APO ) and Metropoulos & Co. The cake brands were to have gone to the auction block this week, but Hostess canceled the auction after it didn't receive any rival bids.
At Tuesday's hearing, the court will also consider a $31.9 million bid for Hostess's Beefsteak rye bread brand from Mexican bakery giant Grupo Bimbo SAB de CV (BIMBO.MX) and Flowers Foods'$360 million bid for Wonder and other bread brands. ..."