Hostess, makers of popular but crap baked goods, has filed for bankruptcy and plans to liquidate all of its assets. The company was looking to cut the wages of its bakers and increase the cost of benefits, but could not come to an agreement with its striking workers. Instead, the company has shut down all of its operations and is looking to sell its physical properties, as well as its valuable brands. In addition to the Hostess line of baked goods, the company owns the Wonder Bread, Nature’s Pride, Dolly Madison, Drake’s, Butternut, Home Pride, and Merita brands. Here’s more from Reuters:
Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, has sought a U.S. court’s permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
The Irving, Texas-based company said the liquidation would mean that most of its 18,500 employees would lose their jobs.
It’s a sad day for thousands of people that will lose their jobs in a rough economy. That’s awful. Let me do a self-centered 180 so I don’t get too bummed out.
Do any of you eat Hostess garbage? Even as a kid, I thought Twinkies were vile. I did like those apple fruit pies and pudding pies though, but they taste way too sweet to me these days. Any of you happen to be fans of Twinkies or Hostess Cupcakes? Are you bummed that the company is going out of business?
Yo… they make Wonderbread. Wonderbread can’t go away. I refuse to be “as white as Schwebel’s”.
That aside, at least5 the Twinkies that don’t get eaten will still be around for my great grandkids.
Ho-Ho’s and cupcakes. I’m fairly certain, however, that Little Debbie is gonna swoop her befreckled, hat wearin’ bitch ass all up in this sh#t and buy up all the marketing rights, so I imagine that this is only temporary.
One of my friends in NY is really upset that the Drake’s brand could go away.
I have never heard of Drake’s before I heard this story.
Twinkies are currently going for 61 dollars a box on Ebay.