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WHITE PLAINS, NY -- The holidays are definitely not going to be happy for more than 200 local Hostess workers.

The company's CEO told a bankruptcy judge Wednesday, he plans to fire 15,000 of the company's 18,000 employees so they can begin collecting unemployment benefits.

This comes after the maker of Twinkies and Wonder Bread could not come to an agreement with striking union workers.,

In court Wednesday, Hostess said it needed to begin the liquidation process quickly to take advantage of outside interest in its brands, which a banker said could fetch up to $2.4 billion. That's about how much they generate in annual sales.

The move affects 250 workers at bakeries in Northwood and Defiance and outlet stores in Toledo and Northwood.

The other 3,000 workers will remain to help clean up plants and mouthball equipment.