TULSA - Hostess Brands, Inc. is telling its 18,000 workers to either get back to work by 5 p.m. Thursday or face unemployment.
In a statement found on the company's website , Hostess threatened to "liquidate the entire company if enough striking employees do not return to work" by the given time.
“We simply do not have the financial resources to survive an ongoing national strike,” said Gregory F. Rayburn, the Company’s Chairman and CEO.
Hostess owns the Wonder Bread plant at 11th and S. Sheridan Road in Tulsa, which employs around 100 people.
Some of them have taken part in a nationwide strike, picketing against a new contract. They say the contract will cut their salaries, pensions and benefits.
"We don't want to see the company close, but this has been forced on us and this is the only way we can get our point across to them that we want a fair contract," said Tulsa-based Wonder Bread employee Monroe Walton.
2NEWS also spoke with Fred Frierson, a business agent for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which represents Hostess employees.
"If they liquidate, we feel like we could get a better deal with the new people that come in," he said. "Somebody's going to buy it. Somebody's going to pick that volume up that's out there, and we feel like we will be able to come up with a better deal than we've got now."
Tulsa Hostess employees have until 4 p.m. to return to work, as the mandated return was an Eastern Standard Time. If they do not, the company will approach a bankruptcy judge about liquidation on Friday.
In the web release, Hostess detailed its potential liquidation process:
The company filed for bankruptcy in January, for the second time since 2004.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Also in the headlines
Engineers say the best place to be during a tornado is underground, as long as you don't live in a flood zone. But there are other options.