NEW YORK, NY. -- On Monday, the bankruptcy court judge ordered Hostess and its second largest union into mediation to resolve their differences. That means the Texas-based company will not go out of business right away.
The makers of Twinkies, Ding Dongs and HoHos have been weighed down by years of debt, management turmoil, rising labor costs and sliding sales. When Hostess leaders announced on Friday that they were shutting down after 82 years, fans emptied the shelves of their favorite pastries.
Some people were so panicked for their sugar fix that over the weekend, four boxes of Twinkies were listed for $3 million on Ebay.
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