Hostess & Unions Agree To Mediation

Good news for Twinkie lovers. Hostess, its lenders and the unions representing its striking workers, agreed to start mediation hearings on Tuesday at the urging of a U.S. bankruptcy court judge. More below.

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A hearing on Monday during which the bankrupt maker of Twinkies snack cakes and Wonder Bread was set to ask for permission to liquidate was quickly adjourned until Wednesday after the judge urged the parties to mediate in private.

Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, N.Y., asked attorneys representing Hostess and the Bakery, Confectionery, Tobacco Workers and Grain Millers International union whether mediation could help the two resolve their issues and avoid the loss of more than 18,000 jobs.

The mediation will begin on Tuesday.

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