Who said no one is interested in buying all of bankrupt Hostess Brands?
A 59-year-old Massachusetts accountant has submitted a “bid” for the maker of Twinkies, Ho Hos and Wonder Bread — offering to buy the operation in a letter written to CEO Gregory Rayburn and the judge who will oversee the bankruptcy auction.
“I’ve been looking for a business to buy for a long time but do not have the capital,” Donald Sheridan, of Wellesley, Mass., told The Post yesterday.
Hostess is expected to draw lots of interest for its popular snack brands but not for the company as a whole as it is weighed down by expensive labor contracts.
Red-letter day for Hostess.
Buyers of the brands would not have to assume the union contracts.
But that didn’t stop Sheridan from sending a four-page handwritten letter last week to Rayburn, Bankruptcy Judge Robert Drain — and Supreme Court Chief Justice John Roberts — expressing his interest in buying the company.
The deadline for expressing interest is Monday.
While the offer is off-beat and clearly an extreme longshot, Perella Weinberg, the investment bank handling the auction, must treat it as legit. The firm called Sheridan on Thursday and sent him a confidentiality letter to sign.
“I’ve come to the conclusion that bankruptcy proceedings have become nothing more than a means to employ stupid lawyers and stupid judges instead of being the means to teach stupid people hard lessons in stupid management,” Sheridan wrote.
Separately, weeks after Hostess closed down and most stores ran out of Twinkies, Wonder Bread and other company goods, a surprise shipment of Hostess Donettes showed up recently at several Walmart stores, The Post has learned.
The shuttered company fired back up the ovens at some of its bakeries recently to use up $29 million of excess ingredients, according to a company insider.
The company then reached out to Walmart to get the sugary snacks to its hungry customers.
The food expires in two weeks and when it is sold, or goes bad, that will be the real end of Hostess.
A Hostess spokesman declined to comment.
jkosman@nypost.com
‘Bidder’ up for hostess
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‘Bidder’ up for hostess
