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Moving Beyond Bankruptcy

Hostess Bankruptcy: 3 Months Later

Laurie Shillito - Thursday, August 28, 2014
With Hostess claiming bankruptcy late last year, many have been wondering just what would happen to their foods and inventory. Many were worried that the brand, the taste and the history were being lost forever, but that is not the function of bankruptcy. While Hostess itself may no longer exist, their assets were sold off and their recipes went to the highest bidder. In proof that Hostess is gone, but not forgotten, a bakery called “Flower Foods” won a bid for $360 million. This bid means that Wonder Bread and other breads baked by Hostess are back.

Another “fear” that gripped the public when news of Hostess liquidating its assets was that the Twinkie was gone forever. However, according to local media, “On Jan. 30, a joint $410 million bid by Apollo Global Management and Metropoulos & Co. was similarly tapped as the leading bidder for the iconic Twinkies brand, the Dolly Madison line of snacks, as well as five bakeries and some of the equipment.”

The bankruptcy of Hostess was and is still huge news. When large companies file for bankruptcy, the public doesn’t always see the behind the scenes deals that happen. Hostess was a giant, but even giants find themselves in financial trouble. We here at Shillito Law can help you if you are a giant company, a small business or an family or individual.


Source: http://www.kcra.com/news/money/Wonder-Bread-headed-back-to-shelves/-/11797182/19106292/-/obcaew/-/index.html#ixzz2M83NJgHh
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