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Say Goodbye to Twinkies – Hostess Is Closing Its Doors

Scott Olson, Getty Images

It’s hard to imagine a world without Twinkies, Ho Hos and Ding-Dongs, but that is our new reality as Hostess Brands Inc. announces it’s plan to go out of business and close it’s doors for good. The main reason is because of striking workers across the country, which crippled their ability to make Twinkies, Ding-Dongs and other iconic snacks that have become synonymous with American Pop Culture. The total number of jobs lost as a result of the closing is about 18,500.The company warned employees about the plan to close if  some sort of deal could not be reached by Thursday evening, which did not happen. So, the company made good on it’s threat to file a motion asking the U.S. Bankruptcy Court for permission to cease operation, which they did this morning.

Hostess CEO Gregory Rayburn said, “I don’t know if they thought that was a bluff,” but the strike’s financial impact on the company means it’s too late to save the company even if the workers want to make a deal.

Hostess hopes to find a buyer(s) for the more than 30 brands, which include Ho Hos, Dolly Madison, Drakes and Nature’s Pride snacks.

Most of us have grown up with those brands and the thought of a world without Twinkies seems almost surreal…it really does. Another American institution bites the dust…what’s next to go, potato chips? I can’t even imagine. It is truly a sad day.

Hostess retail outlets will remain open for a few days in order to sell off inventory so, head to your nearest grocery store or convenience store right now. I’m running out the door now!

[Daily Finance]

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