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The Boston Globe

Business

Judge approves Hostess’ request to liquidate assets

A federal bankruptcy judge has approved Hostess Brands’ plans to wind itself down, officially putting the Twinkies brand on the auction block.

In granting Hostess’s motion, Judge Robert D. Drain of the Southern District of New York cited the need for a quick and orderly shuttering of the company to avoid letting its assets molder. The alternative, a less-structured Chapter 7 liquidation, would be far worse.

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