Twinkies baked goods are displayed for sale at the Hostess Brands' bakery. (AP Photo/Brennan Linsley, File)
Hostess is moving ahead with plans to sell its Twinkies, and one of the new owners says the spongy cream-filled snacks could be back on shelves by summer.
The bankrupt company had earlier picked a $410 million joint offer from Metropoulos & Co. and Apollo Global Management as the "stalking horse" bid to set the floor for an auction.
In a document filed in U.S. bankruptcy court Monday, however, Hostess Brands said the auction would not be held because no other qualified bids were submitted for the cakes, which include Ding Dongs and Ho Hos.