PEORIA - Hostess says more than 100 local employees could be out of a job if they don't return to work by 4 P.M. Thursday. The company sent out a press release Wednesday stating if enough striking employees do not return to work, the company will file a motion with the U.S. Bankruptcy court to liquidate the entire company.
Workers are striking over a new contract that union representatives say contains extreme wage and benefit cuts.
Hostess has filed for bankruptcy twice in the past eight years.
The union says it took a pay cut in 2004, and it won't do it again.
If the court accepts the motion, the liquidation process will begin Tuesday,and will include the termination of all employees except small, temporary crews to clean, secure and prepare facilities and other assets for sale.