For
many companies, bankruptcy is an opportunity to gain some breathing
space, refinance debt and move on. Most airlines have been through
bankruptcy at least once, and many other companies in operation today
once had to seek protection from their creditors. It's not often that
major companies choose the route of liquidation,
but on Thursday, Hostess,
the maker of well-known baked goods like Wonder Bread and Twinkies,
announced that it was doing precisely that.
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