Reuters: Hostess' Entered “First Bankruptcy With $648.5 Million In Debt, And Came Out With More Than $800 Million.” Reuters reported that after Hostess filed for its first bankruptcy in 2004, “it did not deal with its debt”: In January, The Huffington Post reported that “Hostess Brands is hoping to cut its high costs as it heads back into bankruptcy protection for the second time in less than a decade.” Hostess' First Bankruptcy Was Expensive And Did Not Improve The Company's Prospects Huffington Post: Hostess Re-Entered Bankruptcy In 2012. In July, Forbes reported that “Hostess was able to exit bankruptcy in 2009” because of an “equity infusion of $130 million” from a private equity firm, as well as “substantial concessions by the two big unions” and lenders that “agreed to say in the game rather than drive Hostess into liquidation.” In March, Reuters reported that Hostess “filed for its first bankruptcy in 2004, citing declining sales, high food costs, excess capacity and worker benefit expenses.” įorbes: The Company Exited Bankruptcy In 2009. Reuters: Hostess Filed For Its First Bankruptcy In 2004. ![]() Fox Blames Bakers Union For Hostess Liquidationįox News Anchors Blame The Union And A “Labor Dispute” For Putting “18,000 Jobs On The Line.” Martha MacCallum, co-host of Fox News' America's Newsroom, introduced a segment on the Hostess bankruptcy by saying the company is “blaming a worker's strike for crippling their ability to make and deliver their products.” At the end of the report, co-host Bill Hemmer blamed the coming job losses at the company on “a labor dispute,” suggesting that the union had put “18,000 jobs on the line.” MacCallum said the employees were “paying dues to the union and then the union won't make a deal.” But Hostess Was A Troubled Company That Had Recently Emerged From A Previous Bankruptcy
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