Hostess Goes Under; Wonderbread, Twinkies, Ho Ho's to Leave Shelves
Hostess Brands is asking a federal bankruptcy court for permission to close its doors after a bakers strike, laying off 18,500 workers.
Hostess Brands, the maker of Wonderbread, Ding Dongs, Devil Dogs and Ho Hos will close its doors as it petitions a federal bankruptcy court to close its operations due to an employee strike, according to CNN Money. As a result, the Irving, Texas company, with a plant in Philadelphia, plans to liquidate, laying off 18,500 workers and selling off assets to the highest bidder. This means some of the baked goods could return to shelves at some point, but as part of another company. "We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory Rayburn. The company, which has struggled financially and filed for bankruptcy in 2004, offered a new …
