IRVING, TX -- Hostess Brands Inc. reported that it and its five subsidiaries have filed their joint plan of reorganization and related disclosure statement with the U.S. Bankruptcy Court for the Southern District of New York. Hostess had filed for Chapter 11 protection in January of this year.
The disclosure statement includes information regarding labor agreements, the treatment of claims and interests, the company's business plan, and events leading up to and during Hostess' Chapter 11 cases. The plan and the disclosure statement remain subject to further modification and approval by the court.
"The filing of the plan and disclosure statement is a major milestone for Hostess, our employees, suppliers and customers," said chairman and chief executive Gregory F. Rayburn. "The plan sets forth the blueprint for Hostess to emerge from bankruptcy. We will continue to work toward putting the pieces in place for that emergence so that we can thrive again as a robust competitor and continue to serve our loyal customers for years to come."
Rayburn added that Hostess is working to complete its restructuring and exit Chapter 11 in the next few months, provided the plan is confirmed by the court.
Hostess, founded in 1930, produces a wide range of popular brands including Hostess, Dolly Madison, Drake's, Wonder, Nature's Pride, Home Pride, Butternut and Merita. It has some 18,500 employees and operates 36 bakeries and 565 distribution centers across the U.S.