Hostess has set a deadline of 2 p.m. today for workers to return to work or the company will file to liquidate the company in bankruptcy court.
The Irving, Texas-based company, which employees nearly 300 workers in Sacramento, will file a motion to liquidate the company on Friday if not enough striking employees return today to allow the food maker to resume normal operations.
"We simply do not have the financial resources to survive an on-going national strike," said Gregory F. Rayburn, the company's chairman in a press release.
A picket line is in force at the Hostess Brand plant and store on Arden Way in Sacramento, part of the national strike against the maker of Wonder bread, Twinkies and other bakery products.
Workers say they are protesting proposed wage cuts and sharp increases in medical coverage costs.
Hosted said a liquidation process would be followed if not enough employees return to work by the deadline:
• Hostess will file a motion with the U.S. Bankruptcy Court on Friday requesting to wind-down the company and sell all assets.
• Hostess has requested a hearing on the motion for Monday.
• If the motion is granted, Hostess will begin to close all of its operations as early as Tuesday. The closures will include the termination of all employees except small, temporary crews to prepare facilities and other assets for sale.
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