Twinkie defenseless: Hostess will liquidate, sell off iconic brands, lay off 18,500

John Grimmie pushed his cart through the Hostess factory store in Northeast Philadelphia Friday morning. He had seen the news on television and come to stock up.

 

The maker of such iconic brands as Twinkies and Wonder Bread is going out of business. Hostess has announced it will enter liquidation proceedings.

Grimmie read off the list of items in his cart: Twinkies, classic white bread, their beefsteak rye he loves, bagels.

Not everyone has remained as loyal to Hostess’ products as Grimmie, and the company has aging facilities. All this was compounded by a labor strike. Hostess gave its striking bakers union until 5 p.m. on Thursday to return to work. The bakers were protesting plant closures, as well as cuts to their wages and benefits.

In Philadelphia, bakers did not strike but refused to cross a picket line made up of bakers from Maine.

Hostess may sell off some of its well-known products, but its 18,500 employees will lose their jobs.

And no twinkie defense can save Hostess brands from the judgment of bankruptcy court.