Judge Approves $1.8 Million In Bonuses For Hostess Executives

Thursday, November 29th 2012, 4:38 pm
By: News On 6

The future of Twinkies is virtually assured.

A bankruptcy judge has approved Hostess Brands plans to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

The judge also approved the rest of the Hostess wind-down plan.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The Irving, Texas-based company's bankruptcy means loss of about 18,000 jobs—160 of those in Tulsa.

11/16/2012 Related Story: Hostess Going Out Of Business Impacts Oklahoma Workers