Consumers of the tasty, fattening snacks like Twinkies may not have to wait too long to find them on the shelves again. Bankrupt parent company Hostess has lots of companies interested in purchasing the defunct business.
Yesterday in bankruptcy court, Hostess claimed there around 110 potential buyers of the company that brought us Twinkies, Ding Dongs and Ho Ho's. Included in that group are a least five major supermarket retail chains. So, unless there's a competitor out there that wants to buy the product lines to keep them off the shelves, it's likely that you'll again see Twinkies at a store near you in the not too distant future.
Now, the unsavory news. The braintrust of Hostess, the executives who ran the company into the ground, got approved in bankruptcy court yesterday to receive bonuses totalling up to $1.8 million! The company claimed that these 19 corporate honchos needed to stay on for up to a year while the wind-down process concludes, which could take up to a year.
How's that for sticking it to the 18,000 former employees nationally and over 100 Hostess employees at the Peoria bakery!