Is this the end of the makers of the Twinkie and Wonder Bread? Hostess Brands has only a few hours before the midnight Thursday deadline when it says it will force the company into liquidation if the unions do not agree to return to work. The unions have been on strike due to their rejection of the company's request to reduce wages by 8 percent, as well a reduction in health and pension benefits.The strike has affected over a third of the company's 36 bakeries across the US and if the workers do not return Hostess will ask a bankruptcy court on Friday for permission to liquidate. If they are given permission Hostess will close all operations as soon as November 20, two days before Thanksgiving, and fire all plant workers except those needed to prepare its facilities for sale. So could this be the end of the Twinkie, as we know it?
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I see that the company will be sold for $200k, plus all the millions and millions of dollars of debt. So it is indeed the end of the Twinkie, but you never know someone may buy the formula (if there is one) and they will be made by someone else.
Twinkies will survive, some company will buy one factory and the recipe and keep it going. But I imagine that the Hostess Brand will not survive.
Hostess are firing 15000 employees and chopping up the company into little pieces so they will get a great deal of money for the parts, which I am sure will give them more than selling the company as a whole. Who will buy the Twinkies?
Hostess always wanted this to happen so they could fire all the workers and sell each factory off individually. I am sure its worth more in parts than as a going concern.
The Hostess company is a great trove of iconic brands that will be sold to the highest bidder. They should have done this years ago.
I hope the Twinkie survives, not that I think I have ever eaten one, but it is a symbol. I hope the new owner takes back some of the employees that Hostess Brands have let go.