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Bankruptcy sale ushers in the return of Twinkies

When Hostess Brands filed for liquidation bankruptcy, many wondered what the future would hold for a number of iconic products, including Twinkies and Wonder Bread. Michigan snack food enthusiasts may be able to breathe a collective sigh of relief, because a bankruptcy judge recently approved the sale of the Twinkies brand.

According to reports, Hostess sold the rights to Twinkies to two investment firms. A leader from one of the firms has indicated that production could soon enough that the snack cakes might be back in stores this summer. He has also expressed his interest in expanding the brand by creating new flavors.

The sale of Twinkies, along with a couple of other Hostess snacks, cost the investors $410 million, since it's widely considered the most valuable brand for sale. Beyond this transaction, the bankruptcy court also approved the sale of Wonder bread, which was also packaged with a number of other products.

When a business chooses to go forward with Chapter 7 liquidation bankruptcy they agree to sell off assets, which can include brands and other intellectual property, in order to pay back creditors. This typically means that a business also intends to shut down operations.

Liquidation of assets is only one aspect of the bankruptcy process. Although it is the primary mechanism used to pay back debt in this type of bankruptcy, there are often a number of other issues businesses need to settle along the way. By working alongside a trusted legal professional, a business can make the decisions that will work most effectively to clear their debt.

Source: The Associated Press, "Twinkies sale approved by bankruptcy judge," March 19, 2013

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