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Hostess, union unsuccessful in court-ordered mediation

The maker of Twinkies and Ding Dongs said late Tuesday that it failed to reach an agreement with its second-biggest union. As a result, Hostess plans to continue with a hearing on Wednesday in which a bankruptcy court judge will decide if the company can close its operations.

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Hostess says liquidation decision expected Friday

Hostess Brands said it likely won't make an announcement until Friday morning on whether it will move to liquidate its business, after the company had set a Thursday deadline for striking employees to return to work.

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