Sadly, Hostess Brands Inc. says it's going out of business after
striking workers across the country crippled its ability to make its Twinkies,
Ding Dongs, Wonder Bread and other snacks.
The company had warned employees that it would file a motion with U.S.
Bankruptcy Court Friday seeking permission to shutter its operations and sell
assets if plants didn't resume normal operations by a Thursday evening
deadline. The closing would mean the
loss of about 18,500 jobs.
Hostess, based in Irving, Texas, suspended bakery operations
at its 33 factories and said its stores will remain open for several days to
sell already packaged products. The privately held company filed for Chapter 11
protection in January, its second trip through bankruptcy court in less than a
decade....
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