Hostess Brands Inc, maker of the iconic US sweet Twinkies and Wonder Bread, said Friday it intends to shut down and liquidate its assets after failing to reach a compromise with union leaders. The 82-year-old Irving, Texas- based Hostess, one of the country's largest bakers, said it filed a motion in US Bankruptcy Court seeking permission to close its business and sell its assets.
The move came after a strike that Hostess management said crippled operations, already under bankruptcy court oversight following a January Chapter 11 filing.
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