Hostess "recovered" after their bankruptcy by selling assets to a new company (the new company is now Hostess Brands and the old one is "Old HB Inc"). The good

Hostess "recovered" after their bankruptcy by selling assets to a new company (the new company is now Hostess Brands and the old one is "Old HB Inc"). The good parts of the company are in a new shell, and the unit economics allowed them to continue operation. All of the liabilities are in the old company. Many investors and pension holders took a loss, and many employees lost their jobs.