That Was Fast: Twinkie Talks Break Down, Hostess To Liquidate

Despite the hopeful news that a bankruptcy judge had arranged private mediation between Hostess and the striking bakers union, it only took about 24 hours for the two sides to decide that they will never see eye to eye – so it’s liquidation ahoy!

There doesn’t seem to be any details about what transpired during the negotiations, but based on their rapid collapse, my guess is that it went something like this:

Union: “We don’t want our income and benefits slashed.”
Hostess: “Too bad, we’re out of money.”
Union: “Well screw you then.”

Apparently rivals such as Flowers Foods and Mexico’s Grupo Bimbo are interested in some, but not all, of the brands. Until the final word comes down, you can bet that absurd price gouging will continue for the company’s remaining inventory.

(via USAT)

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