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Hostess Files Bankruptcy

Posted on in Bankruptcy

According to the Sun Times, Hostess filed for bankruptcy at the surprise of some of its workers. Valorie Smith spoke about her work experience with the company and stated she had been there for 27 years before the company decided to go out of business. She remembered how it was a good solid place to work at one time and that she enjoyed her job.

Donald Woods talked about how he hoped another company would pick up the products that we all remember from our childhood. He was the head of the union for the Peoria, Hodgkins, and Schiller Park areas.

Both the company and the Union blame each other for the failed business and the resulting bankruptcy. The company blamed the union wanting higher wages and better insurance that the company couldn't afford. They feel they had no choice but to close their doors.

The Union claims the business could have managed their money better and had been heading for bankruptcy for years. They cite a previous bankruptcy as evidence of that and claim that the company didn't recover in the best way that it could have.

Regardless of how it happened, it is happening. Hostess says they will continue to sell their products until the ones that are already made are gone. They have made arrangements for a slower wind down rather than just stopping at once and wasting the rest of the made products.

If you are in a position where you feel you need to file bankruptcy, then you need to have an Illinois lawyer that can help you with it. This way you can file right, avoid mistakes, and make sure that the outcome of your bankruptcy will benefit you. Contact a Cook County bankruptcy attorney today.

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