CEO Letter to Terminated Hostess Brands Employees
November 27, 2012
To Hostess Brands Employees:
As you know, on Friday, November 16th Hostess Brands began the process of winding down all operations and conducting an orderly sale of all company assets. On November 21, the U.S. Bankruptcy Court, Southern District of New York, approved Hostess Brands’ motions to wind down the business.
That means that, as of November 21, 2012, your employment with Hostess Brands is terminated.
On Monday, November 19th, the Court asked Hostess Brands and the Bakers Union to give the Company and its 18,500 jobs one more chance to survive through confidential mediation, and both sides agreed. Unfortunately, those efforts were unsuccessful and we are now forced to continue with an orderly wind down and sale of our operations and assets. We deeply regret taking this action. But we simply could not continue to operate without the ability to produce or deliver our products.
A Question and Answer document and certain contact information related to employee issues, which provide all the information that we currently have available to help guide you through this difficult time is available on the internet at www.hostessbrands.info. It includes information on how to contact state unemployment agencies and contact information for other resources.
I wish each of you the best.
Gregory F. Rayburn
Hostess Brands, Inc.