MEDIATION UNSUCCESSFUL: Hostess Back In Court
It’s been a roller coaster ride for Hostess employees over the last week; it appears they are one step closer to losing their jobs, again.
Hostess Brands released a statement Tuesday night saying mediation with union leaders was unsuccessful. A bankruptcy judge ordered the two sides to meet, saying Hostess could not liquidate their assets until they had met the requirement.
Since no agreement was reached, Hostess will resume the hearing Wednesday to try and declare bankruptcy and shut down.
The future of more than 18,000 employees awaits the hearing.