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Hostess fails to reach agreement

Posted at: 11/20/2012 8:03 PM
Updated at: 11/20/2012 8:48 PM
By: Associated Press

Hostess Brands Inc. lived to die another day.
    
The maker of Twinkies said Tuesday that it failed to reach an agreement with its second biggest union. As a result, Hostess plans to continue with a hearing on Wednesday in which a bankruptcy court judge will decide if it can shutter its operations.
    
The talks between Hostess and The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union came after the company declared last week that it would move to sell off assets in bankruptcy court. The company cited a crippling strike that was started on Nov. 9 by the union, which represents 30 percent of workers.
    
After making its case to liquidate on Monday, the judge noted that the two sides hadn't tried resolving their differences through mediation. Both sides agreed to mediation on Tuesday.