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Post by Travis on Jan 10, 2012 19:30:56 GMT -6
(Reuters) - Hostess Brands Inc, a wholesale baker, is again preparing to file for Chapter 11 bankruptcy protection this week, The Wall Street Journal reported, citing people familiar with the matter. This would be second court restructuring for Ripplewood Holdings-owned Hostess, which filed for bankruptcy almost two years ago and had emerged from it last September. Irving, Texas-based Hostess has arranged for about $75 million in debtor-in-possession financing to keep it afloat during bankruptcy proceedings, the sources told the paper. Once in bankruptcy court, the maker of Twinkies and Wonder Bread will try to reduce debt and renegotiate labor contracts, the newspaper said. The company continues to face a cash crunch despite Ripplewood Holdings investing $40 million, while Monarch Alternative Capital, Silver Point Capital and others loaned the company $20 million late last year, the paper said. Hostess, which carries over $860 million in debt, declined to comment when contacted by Reuters. (Reporting by Eileen Anupa Soreng in Bangalore) news.yahoo.com/hostess-may-file-chapter-11-again-report-004852047.html
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Post by Travis on Jan 10, 2012 19:31:26 GMT -6
IF YOU DID NOT KNOW, HOSTESS OWNS TWINKIES!! NO MORE TWINKIES!!
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Post by TheCerebralBroski on Jan 10, 2012 19:35:02 GMT -6
IF YOU DID NOT KNOW, HOSTESS OWNS TWINKIES!! NO MORE TWINKIES!! LOL
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Post by Travis on Jan 10, 2012 20:16:32 GMT -6
This is horrible.
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Post by Adam Awesome on Jan 18, 2012 15:53:20 GMT -6
The typical American is crying their eyes out at this...............
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Post by The Peep Sir Code Broken on Jan 18, 2012 20:36:48 GMT -6
The typical American is crying their eyes out at this............... Sad huh?
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Post by Adam Awesome on Dec 15, 2012 1:35:16 GMT -6
Nearly 1 year later, the company diminishes and Katie has been in the fetal position ever since.
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