Hostess threatens to liquidate if bakers' strike continues - New York News

Hostess threatens to liquidate if bakers' strike continues

Posted: Updated:
IRVING, Texas -

Irving-based Hostess Brands, Inc. said it would liquidate its business if striking bakery employees don't return to work by 4 p.m. on Thursday.

The company, which makes Twinkies and other treats, is in the middle of bankruptcy reorganization.

But problems with several unions -- including the Bakery, Confectionery, and Tobacco workers and the Grain Millers International Union -- have prevented the company from moving forward.

The company already reached a satisfactory agreement with the International Brotherhood of Teamsters.

Union members make up about one-third of Hostess' 18,000 workers. Many are angry about the company's planned pay cuts.

On Wednesday, the company announced that if enough striking employees don't return to work, it will ask a U.S. Bankruptcy judge for permission to start selling off assets and liquidate the company.

"Don't put other people out of work. Don't make other people go home and explain to their families why they have no job and no employment and add that to the 23 million other unemployed people in this country," CEO Gregory Rayburn said to his employees.

The union released a statement Thursday afternoon that said its members would be happy to go back to work after the company restores wages and benefits.

So it seems unless there were some back room deal happening the liquidation may be going forward.

  • Local NewsLocal NewsMore>>

  • Andy Golub's NYC Bodypainting Day

    Andy Golub's NYC Bodypainting Day

    Wednesday, July 30 2014 10:43 PM EDT2014-07-31 02:43:52 GMT
    The saying art is autobiographical takes on a whole new meaning when your canvas is a fully nude human body, as it is for artist Andy Golub. Andy along with 30 other artists and 45 Technicolor models paraded around several Manhattan hotspots over the weekend for NYC Body Painting day. Believe or not, this is completely legal in New York City.
    The saying art is autobiographical takes on a whole new meaning when your canvas is a fully nude human body, as it is for artist Andy Golub. Andy along with 30 other artists and 45 Technicolor models paraded around several Manhattan hotspots over the weekend for NYC Body Painting day. Believe or not, this is completely legal in New York City.
  • Protestors rally against NYPD's 'broken windows' policing

    Protestors rally against NYPD's 'broken windows' policing

    Wednesday, July 30 2014 10:07 PM EDT2014-07-31 02:07:39 GMT
    Emotions about police brutality were still raw at a protest in Harlem Wednesday night. Eric Garner died after police put him in an apparent choke hold. Cops stopped garner for the minor offense of selling loose cigarettes in Staten Island. Officers had been enforcing the so-called broken windows policy.
    Emotions about police brutality were still raw at a protest in Harlem Wednesday night. Eric Garner died after police put him in an apparent choke hold. Cops stopped garner for the minor offense of selling loose cigarettes in Staten Island. Officers had been enforcing the so-called broken windows policy.
  • Fatal skydiving accident on Long Island

    Fatal skydiving accident on Long Island

    Wednesday, July 30 2014 9:13 PM EDT2014-07-31 01:13:49 GMT
    Police on Long Island say one person has died and another has been seriously injured in a skydiving accident. Riverhead police say it happened at about 4 p.m. Wednesday at Skydive Long Island in Calverton. Police say the injured person was airlifted to Stony Brook University Hospital in critical condition.
    Police on Long Island say one person has died and another has been seriously injured in a skydiving accident. Riverhead police say it happened at about 4 p.m. Wednesday at Skydive Long Island in Calverton. Police say the injured person was airlifted to Stony Brook University Hospital in critical condition.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices