date:Oct 13, 2012
Hostess Brands, a maker of breads and sweet goods in the US, has filed a plan for reorganization under US bankruptcy law, in order to pay creditors and emerge from Chapter 11 protection.
The plan would give a majority of the stake to a consortium of its existing lenders. It may give existing equity holders no return on their investment.
According to court papers, the largest equity owners, after funding $150m in equity and debt investments into the debtors since 2009, including $40m invested i