WSJ: Hostess hires advisers

by Eric Schroeder
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IRVING, TEXAS — Hostess Brands, Inc., which emerged from bankruptcy protection in February 2009, has again hired restructuring advisers amid continued struggles with high ingredient, fuel and labor costs, according to The Wall Street Journal. Citing people familiar with the situation, the WSJ said Hostess has hired the law firm Jones Day and financial services firm Perella Weinberg Partners to negotiate with creditors and attempt to rework the Irving-based company’s finances. The WSJ noted that no restructuring appears imminent for Hostess, and adequate cash is available to operate in the near term. Previously known as Interstate Bakeries Corp., Hostess filed for Chapter 11 bankruptcy protection in September 2004 before emerging in February 2009. At that time, the company announced it would operate as a private company, and in November 2009 I.B.C. changed its name to Hostess Brands, Inc.

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