By Dawn McCarty and Phil Milford Bloomberg News Comments Sales of Hostess assets may generate about $1 billion, a financial adviser told a federal bankruptcy judge in New York on Wednesday. (Associated Press) Hostess Brands Inc. won interim approval from a bankruptcy judge to shut down and start selling the Twinkie maker's assets after last-minute mediation with its bakers union failed to resolve a contract dispute, leaving more than 18,000 jobs at risk. U.S. Bankruptcy Judge Robert Drain on Wednesday approved Hostess' request to close at a hearing in White Plains, N.Y. CEO Gregory Rayburn said 15,000 workers will be fired Wednesday so they can start receiving unemployment benefits. Hostess...
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