UPDATE 1-Hostess Brands hires restructuring advisers:WSJ

(Adds "no comment" from company)

NEW YORK, Sept 1 (Reuters) - Hostess Brands Inc, a U.S. wholesale baker that emerged from bankruptcy protection two years ago, has again hired restructuring advisers, the Wall Street Journal reported, citing people familiar with the matter.

The Twinkies and Wonder Bread baker tapped law firm Jones Day and financial services firm Perella Weinberg Partners to negotiate with creditors and attempt to rework its finances, the people told the paper.

The Irving, Texas-based company employs 20,000 people and has more than $700 million of debt. Hostess declined to comment.

No restructuring is imminent for Hostess, the people told the paper, adding that detailed discussions haven't been held with creditors. Hostess has adequate cash to operate in the near term, they said. (Reporting by Dhanya Skariachan; Editing by Gary Hill and Steve Orlofsky)