bjb writes: According to an article in the Wall Street Journal, Hostess Brands is shutting down, firing about 18,000 workers and seeking liquidation. "A victim of changing consumer tastes, high commodity costs and, most importantly, strained labor relations, Hostess ultimately was brought to its knees by a national strike orchestrated by its second-largest union.". Apparently the remaining inventory of breads and cakes will be sold off to big box retailers and the future of the brands will be determined by the highest bidders in the liquidation.
dywolf writes: In a shocking and disturbing bit of news Hostess, unable to work out a new contract with its bakers who are striking, has filed for bankrupty and requested permission from the court to shutdown operations. The world's most perfect food in the upcoming apocalypse may disappear as the Twinkie supply dwindles.
RenderSeven writes: In a press release issued today, baker Hostess Brands asked a bankruptcy court for permission to close all of its plants and sell off their assets, immediately laying off 18,500 workers. Citing high labor and rising health care costs, increasing competition and growing consumer awareness of healthy foods, Hostess says it can no longer operate without union concessions. A crippling strike has already shut down operations at all facilities, and while the Teamsters Union has ratified a new contract to keep Hostess in business, the Bakers Union has refused saying they would rather see the company closed than accept pension cuts. The Teamsters union is urging the bakers union to hold a secret ballot on whether to continue striking; citing its financial experts who had access to the company's books, the Teamsters say that Hostess' warning of liquidation is "not an empty threat or a negotiating tactic" but a certain outcome if workers keep striking. If your late-night programming is fueled by Twinkies, Ding Dongs and Zingers, better stock up now.