Hostess is moving ahead with plans to sell its Twinkies and other snack cakes to two investment firms after no other competitive offers were made.

Twinkies for sale at a 7-11 in Ewing. (Dan Alexander, Townsquare Media NJ)

The bankrupt company had earlier picked a joint $410 million offer from Metropoulos & Co. and Apollo Global Management as the lead bid for the cakes. Others were given a chance to make better offers and the CEO of Hostess had predicted the auction would be competitive.

But in a document filed in U.S. bankruptcy court, Hostess Brands said no other qualified offers were submitted by the bid deadline. It said no auction for the cakes will be held as a result.

A hearing to approve the purchase is set for March 19.