Hostess tapped into pension funds to stay afloat

December 10, 2012 12:31:17 PM PST
The Wall Street Journal reports Hostess used employee pension money to stay afloat as it sank deeper and deeper toward bankruptcy.

It isn't clear how much money was taken from those pension funds.

Monday is also the final day for bidders interested in taking over what's left of Hostess to step forward. Hostess says so far, 160 companies have expressed interest in its brands which include Wonder Bread and Twinkies.

Hostess closed last month. It had facilities across the country including a bakery in Oakland.