The closure of Hostess, based in Irving, Texas, means the company will lay off its 18,500 employees. In 2009, Hostess came out of bankruptcy thanks in part to private equity firm Ripplewood Holdings, which made a $130 million investment, CNBC reported Friday. Hostess filed again for bankruptcy in January, and its debt was later purchased by investment firms, including two hedge funds: Silver Point Capital and Monarch Alternative Capital, according to a CNN Money report.
Union: 'Bain-style' killing of Twinkie - Kevin Cirilli - POLITICO.com
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