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Hostess to seek approval for executive bonuses, liquidation plan

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FILE - A Hostess Twinkies sign is shown at the Utah Hostess plant in Ogden, Utah, in this Nov. 15, 2012 file photo. Hostess Brands Inc. says it\'s in talks with more than 100 parties interested in buying its brands, which include Twinkies, Ding Dongs and Ho Hos. (AP Photo/Rick Bowmer, File)

NEW YORK, N.Y. – Hostess Brands Inc. plans to ask for a judge’s approval Thursday to give its top executives bonuses totalling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year.

Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The company’s bankruptcy means loss of about 18,000 jobs.

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