Bloom Berg

Twinkie Maker hostess to Shut Down After get word stewardess Brands Inc., the bankrupt maker of Wonder bread and Twinkies, give in it lead fire more than 18,000 solveers and liquidate after a ten- draw crippled operations. We deeply regret the necessity of directlys decision, but we do not have the fiscal resources to live on an extended nationwide strike, Chief decision maker Officer Gregory F. Rayburn verbalise today in a statement. coalescence members crippled the companionships ability to produce and speak products at duple facilities, and bakery operations have been hang at all(a) plants, the troupe utter in the statement. Rayburn said stewardess depart dismiss virtually of its 18,500 employees and focus on sell assets. Shipments of bread, pungency cakes and other products allow continue until supplies run out, he said. The Bakery, Confectionery, baccy Workers and Grain Millers International Union went on strike Nov. 9 after a loser judge in  uninf ected Plains, New York, imposed contract concessions that 92 share of the marriage ceremonys workers rejected. Union Statement The crisis confront air hostess Brands is the result of close to a decade of fiscal and operational mismanagement that resulted in two bankruptcies, mountains of debt, declining sales and disordered market share, the union said yesterday in a statement.

The company attempted to subside the mess by fight the companys most valuable asset -- its workers. Hostess closed three of its 36 plants permanently Nov. 12, blaming the strike. The company said it determined last nighttime that n ot enough employees had returned to work to ! restore normal operations. The wind-down will close the remaining 33 bakeries and 565 distribution centers, Hostess said. Hostess today filed a inquiry asking the judge overseeing its bankruptcy to hold a Nov. 19 hearing to approve the companys request to close down down. The company, based in Irving, Texas, filed down the stairs Chapter 11 for a second time in January, itemization assets of $982 million and liabilities totaling...If you extremity to get a full essay, come out it on our website: OrderCustomPaper.com

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