MONEYWATCH
Twinkies maker Hostess going out of business
November 16, 2012
November 16, 2012
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IRVING, Texas The maker of the iconic U.S. snack Twinkies said Friday it is going out of business and laying off all of its 18,500 workers after a national strike crippled its operations.
The company, founded in 1930, was fighting battles beyond labor costs. Competition is increasing in the snack space, and Americans are increasingly conscious about healthy eating.
Hostess Brands had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn't return to normal levels by Thursday evening.
Beloved brands face challenge: Adapt or die out
The company, founded in 1930, was fighting battles beyond labor costs. Competition is increasing in the snack space, and Americans are increasingly conscious about healthy eating.
Hostess Brands had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn't return to normal levels by Thursday evening.
Beloved brands face challenge: Adapt or die out
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