Hostess To Close Down Business – NO!

Yes, it is true. The maker of such iconic classic treats as Twinkies and Ding Dongs (the baked treat, not the people) has asked a court’s permission to shut down the entire company. This is after a nationwide strike has crippled its operations.

If all proceeds as planned, this will mark the closure of one of the oldest and largest producers of baked goods in the United State. Hostess was founded in 1930 and produces Twinkies, Ding Dongs, Ho Ho’s, Sno Balls, and Wonder Bread, which the company claims is the top-selling white bread in the country.

All baking operations have been suspended at all of their plants and most of their 18,500 workers will be laid off, according to a statement released by the company. Moving forward they will focus on selling off their assets. A motion has been filed with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets.

This follows after one of the company largest unions, the Bakery, Confectionery, Tobacco Workers, and Grain Millers International Union (BCTGM), initiated a nationwide strike that crippled the company’s ability to produce and deliver products at multiple facilities.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” said Gregory F. Rayburn, chief executive officer.

I’m starting to think the Mayans were right. Can you imagine a world without Twinkies?

So far, there is no truth to the rumor that Mitt Romney and his Bain Capital group are planning to buy up Hostess, break it apart, and make millions more. I don’t know though. He wanted to kill Big Bird. Why not Twinkies too?

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