News Artcle

TEL AVIV (MarketWatch) -- Hostess Brands Inc. on Thursday was cleared by a federal bankruptcy judge to sell its assets, dismiss 18,000 staffers and liquidate the company, media reports said. U.S. Bankruptcy Judge Robert Drain in White Plains, N.Y., ruled that the iconic maker of Twinkies and Ding Dongs could pay as much as $1.8 million to the senior managers who will stay on to oversee the winding down of the operations, Friday reports say. At the same time, an adviser to Hostess said in court that 110 parties have shown interest in the brands, which also include its cupcakes, Devil Dogs, Wonder Bread and Ho Ho's.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.