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Hostess And Twinkies Prepare For Bankruptcy, Files Chapter 11

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NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

[photogallerylink id=55288 align=left] This is too emotional for us… here’s the official word…

“Hostess Brands, the baking company known for sweet treats like Twinkies and Ding Dongs, filed for bankruptcy protection on Wednesday, just three years after emerging from an earlier restructuring process.

“The company, which has assets of roughly $1 billion, has been struggling under the weight of a debt load of about $860 million and soaring expenses tied to its labor force. Hostess has up to 100,000 creditors, and its chief unsecured creditors are labor unions and pension funds that represent the company’s employees, according to the Chapter 11 petition filed in United States Bankruptcy Court in New York.” – NY Times

“Hostess Brands is hoping to cut its high costs as it heads back into bankruptcy protection for the second time in less than a decade.

“Hostess has enough cash to keep stores stocked with its Ding Dongs, Ho Hos and other snacks for now as it battles rising labor costs and increased competition. But longer term, the 87-year-old company has a bigger problem: health-conscious Americans favor yogurt and energy bars over the dessert cakes and white bread they devoured 30 years ago.”  Huffington Post

Comments

One Comment

  1. colton case says:

    sure they are , just like the scam that Mothers cookies put on several years ago that they were going out of business. But look at the cookie shelves today in the grocery market. the shelves are slap smack full of Mothers cookies. well I am glad that Mothers didnt go out of business and I really hope that Hostess doesnt go out of business. Even with the dieting fad happening I will always eat the fruit pies and snow balls and chocolate cup cakes. hang in there.

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