It\’s difficult to believe that a great organization that made some of the most popular snack cakes could have ever shut its doors. It was seemingly making a lot of company, so how could a profitable company just die out? Well, it seemed like one too many bad choices went into it and now one particular wholesale baker shut down production. I think that it won\’t take too long for former employees to use business debt collection to secure what is owed to them.
For those of you who haven\’t been paying attention to the news in the past several weeks, Hostess closed down operations after being founded in 1930. This means that not only Hostess would go down but brands like Wonder Bread and Drake\’s as well. Due to how long the company had been in business for, this wasn\’t something that simply occurred out of thin air. Many bad choices seemed to occur during the later parts of the company\’s existence, many of which are the fault of executives.
It was said that prior to Hostess closing its doors, several workers had gone on strike. While executives tried to cover this up, it was said that people were having their pay cut and employees\’ pension was being stopped. When this occurred, a number of executives received great percentages on top of their 100% raises, which only helped to accelerate the company\’s ultimate faith. With so much debt lingering in the company even after closing its doors, I could only imagine the disgruntled workers want to take action.
For this to transpire, I believe that business debt collection would have to be put to use in the name of procuring payments. Reputable companies like R-R-S can be employed so that you can collect the amount of money that you deserve. The debtor can take on a litany of different shapes and types, from just one individual to an entire business filled with workers of all sizes. In a case such as this, the debtor would be seen as Hostess.
I believe that these workers would totally be in the right to look for financial retribution. The degree of pension owed to the workers amounted for over $160 million, which definitely put a dent in the staying power of Hostess. I don\’t believe the fault would land squarely on the shoulders of employees since they were only doing as they were told. Rather, it\’s a situation in which the executives and CEOs have no one to blame for the eventual closing but themselves.
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