Hostess Brands Gets the Go-Ahead to Liquidate

COLUMBIA, S.C. (CNN) – Hostess Brands is officially going out of business. A bankruptcy judge approved a request to liquidate the 82-year-old company Wednesday. The decision came after the company’s latest attempt to end a pay-and-benefits dispute with its Bakery Workers union failed. The move allows the company behind such iconic brands as Twinkies and Wonder Bread to start selling off recipes and bakeries to the highest bidder. The company’s operations shut down last week following several days of strikes from employees. Many union members were opposed to wage and benefit concessions the company offered. The end of Hostess means the closure of dozens of bakeries, hundreds of distribution centers and more than 18-thousand jobs.