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On January 11, 2012, Hostess Brands Inc. filed for Chapter 11 bankruptcy in the Southern District of New York.  As Teamster Hostess employees know well, this marks the second time Hostess had to declare bankruptcy, having also filed for Chapter 11 protection in late 2004, only exiting in 2009.

What does this mean?

The Company (now known as “the Debtor”) is seeking to restructure with a plan of reorganization that meets Court approval by mid-May, with the Debtor to exit bankruptcy in July 2012.

But there are a number of contingencies that may alter the timing, most notably if the Teamsters or the other Hostess unions are unable to reach a negotiated settlement with the Debtor.

Hostess Negotiations

As we have maintained repeatedly over the course of the last several months in our dealings with the Company, the key to Hostess’ long-term survival is finding a mutually agreeable solution among all parties – management, lenders, equity holders and employees. Read more about the Hostess negotiations, here.

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