Investment bank to represent former Hostess employee pensions - Toledo News Now, News, Weather, Sports, Toledo, OH

Investment bank to represent former Hostess employee pensions

(Toledo News Now) -

Investment bank Gordian Group will now represent former Hostess employees' pensions. The news leaves former employees optimistic about their future with Flower Foods.

In a statement posted on its website, Gordian Group says it will work to preserve jobs.

The bakery confectionery union says the new partnership is ideal for former workers as it will try to maximize benefits for union members.

Former employee Mike Popovich says for the past year his pension has been frozen. During all of 2012, he received no money because Hostess Brands would not pay into it.

Popovich says the news of Gordian's representation is great to hear.

"Hopefully [I'll] go back to work for the new owner of the company and maybe it will be a union shop and we can go back and we can go back to earning pension credits," said Popovich.

Popovich was a Hostess Brands employee for the past 23 years. He says these past few weeks of unemployment have been very difficult, but he is holding out hope that he will be rehired with Flower Foods in the next few months.

Hostess filed for bankruptcy in January 2012 after failing to reach a contract with the bakers' union. It is now seeking buyers for its assets.

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