Hostess Liquidation Approved

    CHICAGO, IL - NOVEMBER 15:  Hostess Brands products are shown on November 15, 2012 in Chicago, Illinois. Hostess Brands Inc. has warned striking workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that it will move to liquidate the company if plant operations don’t return to normal levels by this afternoon.  (Photo by Scott Olson/Getty Images)

    Scott Olson / Getty Images

    The era of Hostess treats appears to be truly over. After mediation yesterday failed to create a solution, the company's motion for bankruptcy was approved by a New York court Wednesday. Falling victim to the Hostess Brands closure are 570 bakery outlet stores, 565 distribution centers, thousands of delivery routes and roughly 18,500 jobs. The company says it will keep on 3,200 employees to help with the initial phase of the shutdown, which is expected to take a year.

    Read it at The Wall Street Journal