Instead of approving a proposed bankruptcy filing by the 82-year-old Hostess Company- maker of popular snack food brands like Twinkies, Ding Dongs, and Ho-Hos, a White Plains court has reportedly ordered management and members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International union to consider mediation to settle their current contract dispute.
Both groups agreed and will enter closed door sessions Tuesday.
Late last week, the Hostess management announced they could not come to a contract agreement with the union workers and would go out of business. The announcement created a minor frenzy as people made a run to buy their favorite snack cakes and treats.
In other reports, there may already be other companies interested in buying the popular Twinkies brand including Georgia based Flowers Foods which also makes Tastykake snack foods. Interest has also reportedly been expressed by Bimbo Group of Mexico; the company makes Sara Lee and Entenmann's food products.