Twinkie the Kid may not ride into the sunset just yet.
Hostess Inc. announced Monday that a bankruptcy judge has ordered the company to enter mediation with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union which includes some 30 percent of Hostess’ workforce.
The iconic snack cake maker said it would be shutting down all operations last week after it became clear union contract negotiations had reached an impasse. Now Hostess and the union have agreed to talks, which began Tuesday, November 20.
New York Post reported that Hostess CEO Gregory Rayburn said a contract agreement would have to be made by Wednesday because the company is spending $1 million per day in overhead as it brings operations to a close.
Whatever happens to Hostess, it’s unlikely Riverhead artist Don Duga’s classic character, Twinkie the Kid, has seen his last days. Outside companies will likely buy Hostess’ most popular brands—Twinkies, Wonder Bread, Ho Hos, etc—so they would eventually become available again. Hostess, which does around $2.5 billion in business annually, has already heard from a number of interested buyers, according to the Post story. Twinkies brought in $68 million for Hostess as of November 19 of this year.