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Madame Captain

R.I.P.

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You like Twinkies? Well, not anymore!

NEW YORK (CNNMoney) -- Hostess Brands -- the maker of such iconic baked goods as Twinkies, Drake's Devil Dogs and Wonder Bread -- announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them.

Hostess' nearly 18,500 workers will lose 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 about 5,000 Hostess employees.

"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory Rayburn in a statement.

Hostess will move to sell its assets to the highest bidder. That could mean new life for some of its most popular products, which could be scooped up at auction and attached to products from other companies.

A letter that Hostess sent to its network of stores that carry its product said it expects "there will be great interest in our brands." But it said it could not give a time frame for when the sales would take place and when its products would be available again.

But even if those brands are bought and restarted, the Hostess workers will not get their jobs back.

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I wonder if Hostess really needed to close its doors down, or the capitalists were not making enough money exploiting the labor force, so they thought their investment could be better placed elsewhere?

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I wonder if Hostess really needed to close its doors down, or the capitalists were not making enough money exploiting the labor force, so they thought their investment could be better placed elsewhere?

I'm pretty sure that they need to close their doors when they file for bankruptcy.

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I don't think Twinkies will be gone for good, they'll surely sell the recipe (as the article suggests) unless they're completely and utterly stupid.

Or it could be a genius marketing scheme, and really no one is getting fired, and they're not filing bankruptcy. Hmm.

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Naw, twinkies has apparently been slowly becoming less profitable over the years as far as I've been able to read. It wasn't enough to keep this company out of toilet, I doubt anyone will want to keep them going.

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I was asking my grandparents about twinkles, and they say that the recipe has gone been going downhill for a while now. I wish I could have tasted one back in the 50's or 60's. must've been some serious mis-management, but I was told that the company has been financially unsound for a long time. Too bad.

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