Dive Summary:
- In a bankruptcy court hearing yesterday, Hostess executives claimed they are in talks with over a hundred potential buys for the company's iconic bands.
- While analysts had no doubt Hostess's intellectual property would attract buyers, the eagerness and sheer number of those interested is staggering.
- Hostess also hinted that these potential buyers are ready to spend a lot of money on brands such as Twinkies, Sno Balls and Wonder Bread.
From the article:
The update on the sale of the company's brands came as Hostess seeks approval in U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans. The company says the incentive pay is needed to retain the 19 corporate officers and "high-level managers" during the liquidation process, which could take about a year.
