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Companies look to bid on bankrupt Hostess

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A pair of bidders is going after the company that makes Twinkies and Wonder Bread.

According to the Wall Street Journal, Flowers Foods and Grupo Bimbo are considering bids for Hostess. Some popular brands between the two include Nature’s Own and Entemanns.

Hostess is still looking to sell off its assets under its bankruptcy terms. The company might reveal a purchasing deal as early as next week.

10 comments

  • Dianna

    I hope they get bottom dollar for the company! After the greedy people that work in the higher up offices (they know who they are) totally destroyed the company by giving themselves outlandish raises(300% in January) and having the audacity of asking the bankruptcy court for another raise so they can do the liquidation of the company over the course of the year! That is all they did was have their hand in their out & then in their pockets! Their nothing but a bunch of greedy low life's that should be facing criminal charges! Ticked off wife of a route salesman that devoted 26 yrs tot his company and I watched & paid very close attention to what was going on!

    • Robert

      The higher ups getting raises had nothing to do with this. Actually it was the unions. Separate delivery trucks for cakes and bread products….even though they went to the same locations?? And then the driver of the truck was not allowed to unload the product…they needed another worker to do that? So it took 4 people to unload products to one single store….when it only takes 1 person. Stuff like THAT is why they went bankrupt. How could they possibly compete with that nonsense?

  • mikeg

    robert, where did you get your information from? what is your experience in THIS business come from. I worked for this company for 24 years in the northeast. I was in supermarket mgmt before this. In 24 years no one ever loaded or unloaded my truck. We even had some routes that had bread and cake on the same truck also. I'll tell you that in urban areas i could move much more product. there were way too many items and sku's to be really effective handling bread and cake.. on high mileage routes i have to agree in sending out 1 truck. in the city i could concentrate on less and be a much more effective salesman. so fact is that there were bread and cake on same trucks when the company thought it was better. i had a very high volume cake only route( 2 walmart supercenters). i ordered, loaded my truck, sold into my stores and unloaded all the products myself. i had a great superviser and we worked very well together. i received help only if it was physically impossible for me to make the many time constraints with my customers. the information floating on the web about the working conditions and true facts blows me away. maybe in other parts of the country it was different. regards mike

  • mikeg

    also robert I gave up what would have amounted to a total of $18000 a year in pay cuts and benefit cuts. even so i voted for the cuts and accepted them. i worked from 3.30 am to 2pm 5 days a week. I wanted the co. to survive and thrive.

  • mikeg

    i have no idea how much per hour. it was commision plus base pay. after the last pay cut i was averaging roughly $750 week gross pay. based on a 55 hour work week. so i guess 14.40 per hour straight time. now factor in what would have been overtime(roughly 15 hours) , so i guess that $12 an hour is more accurate. your not gonna survive at 18k a year in the north east. and we were having trouble keeping good people at this rate. a lot of good guys retired and a bunch went to bimbo and are pulling down 75k a year. most of our good guys were jumping ship and the newer guys were just using us as a layover till better jobs came along. we never had much turnover ubtill the last couple of years.

    • jim

      Good post mike they just don't understand the Job we did .loading the truck I did mine too.I live in the north east we pay 7,000to10000 in taxes. 1500.00 in mortgage payments factor in car food utilities. And the abuse we have to take from customers and the company was crazy .they have know all the crazy rules he had to follow .they make it like we are sitting on side road 10 guys watching 1 person work .or sitting in a cop car reading the paper ,or the teacher only works165 days a year. Get paid by commission that means the more we work the more we get paid .

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