Hostess Brands Inc. has received bids from about 24 parties, with some interested in acquiring all assets, and others focused on its cake or breads businesses, Reuters reported.
Kroger and Walmart are reportedly among those bidding for the bankrupt Twinkie and Wonder Bread maker’s assets.
Hostess received court permission last month to wind down its 82-year-old business, which cleared the way for the company to begin selling assets. Proceeds will help it repay creditors $900 million of secured debt. The company also faces up to about $150 million of administrative claims.
By early January, the company expects to have initial bids for its various brands, which will then be put to auction.