Nov. 16 Photo Brief: West Bank bloodshed, Hostess expires, fighting Afghan dogs, diving Chinese pigs
Bombings in Gaza and Israel continue, Hostess is going out of business, dog fighting becomes more popular in Afghanistan and more in today’s daily brief.
Twinkies maker Hostess plans to go out of business
Carey Gillam | Reuters
2:17 p.m. EST, November 16, 2012
(Reuters) – Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court’s permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
The 82-year-old Hostess, which has about $2.5 billion in sales and is one of the largest wholesale bakers and distributors of breads and snack cakes in the United States, filed the request with the U.S. Bankruptcy Court in New York early Friday morning. A hearing on the matter is set for Monday.
The Irving, Texas-based company said the liquidation would mean that most of its 18,500 employees would lose their jobs. Hostess immediately suspended operations at all of its 33 plants across the United States as it moves to start selling assets.