Hostess Hires Northbrook-Based Liquidator
Hilco, a liquidation firm in Northbrook, will oversee the sale of Hostess equipment and real estate.
The bankrupt dessert brand Hostess behind such treats as Twinkies and Sno-Balls is using Northbrook's Hilco liquidation firm to sell off Hostess' remaining equipment and real estate, the Chicago Tribune reports.
Hostess stopped producing its line of desserts last year after struggles to cooperate with employees and unions, and filing for Chapter 11 bankruptcy for a second time in under 10 years, the Chicago Sun-Times reports.
Hilco will perform their liquidation using four branches: Hilco Real Estate LLC, Hilco Industrial LLC, Hilco Streambank and Hilco Asset Protection LLC, which will offer security protection to Hostess bakeries until the company is sold, the Chicago Tribune reports.
“This assignment carries with it great responsibilities. As the liquidating agent representing Hostess Brands, I am confident that Hilco will succeed in generating maximum value for the benefit of company’s creditors,” Hilco chairman and CEO, Jeffrey B. Hecktman, told the Sun-Times.