Hostess, the maker of Twinkies, Ding Dongs, Wonder Bread, and Ho-Ho’s is going out of business, that’s the announcement made by company officials this morning.
The CEO has said all along that it would liquidate its business if striking union workers did not return by 5 p.m. Thursday. The maker of the popular Twinkie snack had asked the Bakers Union to make concessions in pay and some benefits but union leaders wouldn’t talk. The company said it could not afford the strike.
The company already filed for Chapter 11 bankruptcy in January.
The closing will result in Hostess’ nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees. Teamsters, the union that represents another 7,000 workers disagreed with bakers unions strike, themselves accepting a contract deal earlier in the3 year with less pay and benefits. Teamster officials said they tried telling the union this would be the end result. “Now the company is closed and everyone is out of work”