Pine Bluff company files paperwork to buy Hostess
A Pine Bluff company wants to buy the now bankrupt HostessBrand.
Cookies & Sweets Bakeries of Pine Bluff has filed amotion in a New York bankruptcy court to buy the Twinkie creator. Click hereto read the entire motion.
Cookies & Sweets Owner James Davis says he hated theidea of seeing thousands of Hostess employees lose their jobs and thinks buyingthe business could help him send his products around the globe.
Davis, however, admits he has previously run into somefinancial troubles with the state of Arkansas. The Secretary of State's websitelists Cookies & Sweets Bakeries corporation status as "revoked" because its franchise taxes have not been paid, but Davis says it's just amisunderstanding he's working to clear up.
Those issues aren't slowing him down. He describes himselfas a "visionary," likening himself to Sam Walton and Walt Disney.
Davis was born and raised in Detroit, Michigan, but came toArkansas on a band scholarship to the University of Arkansas at Pine Bluff. TheCookies & Sweets bakery began in Pine Bluff but that location is nowclosed.
As for how to fund the purchase of Hostess, Davis says hehas several plans. He is considering an initial public officering on the stockmarket or acquiring bonds.
If the purchase is completed, Davis says he plans to build anew bakery in Arkansas. Both Pine Bluff and Little Rock are potentiallocations, but he said, "Any good spot wouldwork."
The first step, however, is to secure Hostess. Davis sayshe's already spoken to a former Hostess employee from Ohio about thepossibility of going back to work and told her "to be hopeful."