According to the National Council on Aging, more than 13 million older adults are considered economically insecure, living on less than $22,000 a year.
A company owned by former Massachusetts candidate for governor and convenience store magnate Christy Mihos has filed for bankruptcy after racking up as much as $10 million in debt.
The maker of Twinkies and Ding Dongs said late Tuesday that it failed to reach an agreement with its second-biggest union.
Hostess attorneys wanted permission to close down operations and start laying off more than 18,000 employees across the company.
About 300 jobs have reportedly been eliminated in Massachusetts as Hostess Brands Inc. goes out of business.
Hostess, the maker of Twinkies and Wonder Bread, is going out of business, closing plants, laying off its 18,500 workers and putting its brands up for sale.
The move comes just days after a trustee was appointed to oversee the bankruptcy filing of the company. The decision leaves 170 people without work.
About 1800 items from Curt Schilling’s bankrupt video gaming company 38 Studios are set to be auctioned off on Tuesday in Providence.
Upper Crust filed for Chapter 11 protection, after defaulting on a bank loan of more than $3 million.
After several weeks where the Worcester Tornadoes’ financial troubles had become increasingly publicized, the team’s membership with the Can-Am League has been terminated until it can find more financially stable ownership.
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