Hostess To Go Out Of Business, No More Twinkies
They plan to lay of their 18,500 workers and sell its snack cake and bread brands, which includes Wonder Bread. This is all due to a nationwide worker strike that stop the ability to make all of their products.
CEO Gregory F. Rayburn had posted this letter to their employees on their corporate website:
"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands. Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the (company) can offer you at this time"