Hostess Seeks to Shut Down Operations

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Story Created: Nov 16, 2012 at 9:40 AM PDT

Story Updated: Nov 16, 2012 at 9:40 AM PDT

Hostess Brands has officially announced that it is asking a federal bankruptcy court for permission to close its operations, according to a report from Granite Broadcasting sister station CINewsNow.com in Peoria, Ill.

According to the report from CINewsNow.com:

Last Friday, workers at 23 plants took to the streets on strike after an overwhelming majority voted down what they call 'an unacceptable contract' that would again cut their pay and benefits.

Wednesday, Hostess CEO Greg Rayburn told striking employees that if they did not return to work by 5 p.m. Thursday he would be forced to liquidate the company.
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