Twinkie maker Hostess gets bankruptcy court judge approval to wind down business

WHITE PLAINS, N.Y. - Hostess Brands Inc. will begin winding down its operations with approval granted by a bankruptcy court judge Wednesday.

The ruling came after the maker of Twinkies and Ding Dongs failed in last-ditch negotiations to end a strike by its second-largest union.

Hostess now has the green light to terminate the jobs of its 18,000 workers and sell off its brands.

The company has a bakery, which employed 167 people, on East 62 Avenue near Interstate 25 in Adams County. Most of the employees in that facility worked their final day last week.

In court Wednesday, Hostess said it needed to begin the liquidation process quickly to take advantage of outside interest in its brands, which a banker said could fetch up to $2.4 billion. That's about how much they generate in annual sales.

Hostess, based in Irving, Texas, has been spending about $1 million a day in payroll without any income since it halted operations last week.

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