Unions have
killed Hostess...
Hostess, the makers of Twinkies, Ding Dongs and
Wonder Bread, is going out of business after striking workers failed to
heed a Thursday deadline to return to work, the company said.
“We deeply regret the necessity of
today’s decision, but we do not have the financial resources to weather
an extended nationwide strike,”
Hostess CEO Gregory F. Rayburn said
in announcing that the firm had filed a motion with the U.S. Bankruptcy
Court to shutter its business. “Hostess Brands will move promptly to
lay off most of its 18,500-member workforce and focus on selling its
assets to the highest bidders.”
Hostess Brands Inc. had earlier warned employees that it would file to
unwind its business and sell off assets if plant operations didn't
return to normal levels by 5 p.m. Thursday. In announcing its decision,
Hostess said its wind down would mean the closure of 33 bakeries, 565
distribution centers, approximately 5,500 delivery routes and 570 bakery
outlet stores in the United States.
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