Hostess, 82-year-old company, Will Sell Its Portfolio of Iconic Brands & Layoff Workers

Hostess’ advisers will soon begin to shut down the company’s 33 bakeries and 565 distribution centers, headquarted in Irving, TX. The vast majority of its 18,300 employees will be laid off, according to the company.

As part of the liquidation process, Hostess is also moving to sell off its iconic portfolio of treats. Such brands often find a second home after bankruptcy, often with companies specializing in intellectual property.

source: CBSNews

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: