Twinkies

(via Flickr/sekimura)

The process that started with strikes and Hostess bakery shutdowns (including one in St. Louis) has made another step forward.

A bankruptcy judge has approved the sale of Twinkies to a pair of investment firms.

Hostess Brands Inc. is selling the spongy yellow cakes, along with other snacks including Ding Dongs and Ho Hos, to Apollo Global Management and Metropoulos & Co. for $410 million.

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Updated 2:26 p.m.

Hostess is moving ahead with plans to sell its Twinkies and other snack cakes to two investment firms after no other competitive offers were made.

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The announcement from Hostess that it would be shutting down three of its bakeries (St. Louis, Seattle and Cincinnati) and then, shutting down as a company entirely, evoked a "Twinkie panic."

via Wikimedia Commons

A bankruptcy judge in New York has ordered Hostess Brands Incorporated back into mediation with its second-largest union, meaning for the time being the maker of Twinkies, Ding Dongs and Wonder Bread will not shut down.

The company had begun the process of liquidating its assets following a Nov. 9 strike by its bakers' union.   The Hostess plant in St. Louis employed 360 people before it was closed last week.

Dave Douglas has worked for the company for 28 years and says he can’t afford to give up any more in wage and benefits to keep the job.

(via Flickr/sekimura)

Grocery stores across Missouri are running out of Twinkies and other Hostess products, following today’s announcement that the company is going out of business.

Shoppers had already been snapping up Twinkies, Ding Dongs and other Hostess-made snacks prior to the announcement that the company was closing.  Lori Willis is spokeswoman for the St. Louis-based Schnucks grocery chain.  She says they expect to completely run out of Hostess snack products by Saturday.

“As a retailer, this is the very last thing you want to hear, that you’re not going to be able to meet the needs of your customers, so we’re working very hard with a lot of other suppliers to make sure that we can fill in where we can," Willis said.