Hostess, the company that brought us Wonder Bread, the Hostess Twinkies; Cupcakes; Fruit Pies; Zingers and Ding Dongs announced today the company would close its doors and liquidate after the Union representing 5000 Hostess Bakers decided to strike rather than agree to accept concessions with the 82 year old iconic Company. Today’s announcement is no surprise since the maker of snack foods and bread set a Thursday deadline for employees represented by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union to return to work or the Company would close its doors and liquidate the companies assets. Today Hostess CEO CEO Gregory Rayburn said in a statement. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”
Hostess Brands, the bankrupt producer of Twinkies and Wonder Bread, is seeking permission from the court to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers, the Chicago Tribune reported.
This is a great positive development nutritionally speaking. In terms of economics and employment, it’s indicative of the immediate future.
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