Bankruptcy Judge Robert D. Drain on Nov. 21 approved plans for Hostess Brands to wind down its operations, the New York Times DealBook blog reported on Thursday. The company, whose corporate ancestors go back 82 years, said that it would put Twinkies on the auction block, along with its other famous brands, including Ho Hos, Sno Balls, Ring Dings and Wonder Bread. In granting the motion by Hostess, Judge Drain said that it was important to have a quick and orderly shutdown of the company to prevent the deterioration of its factories and assets.
