Hostess

Judge Approves Hostess' Plan To Liquidate

Nov 21, 2012

Maybe the end is nigh, after all.

A judge has approved Hostess' plan to liquidate the company, all but assuring that the maker of Twinkies, Ding Dongs, Donettes and Wonder Bread will cease to exist.

The New York Times reports:

Flickr user Christian Bale

Grocery chains across Missouri are running out of Twinkies and other Hostess products, following Friday's announcement that the company is going out of business. 

Carrying through on its warning about what could happen, the management of Hostess Brands announced this morning that the company is going out of business and laying off its 18,500 employees.

At issue: According to Hostess CEO Gregory Rayburn, "we simply do not have the financial resources to survive an ongoing national strike."

Hostess company officials told striking workers they had until 5 p.m. Thursday to go back to work, or management would be forced to liquidate the company.