Hostess Brands, Inc., after filing for bankruptcy for the second time and having a dispute with its unionized workers, has asked for permission to go out of business. This would mean that its products, such as Twinkies, Ho Hos and Wonder Bread, will no longer be manufactured. Its remaining inventory of breads and cakes will be sold to consumers, but unless or until the brands are bought by other businesses, they will soon cease to be on the market. Hostess plans to sell their brands to the highest bidders.
Oh well, we still have Little Debbie and Tastykakes, don't we?
Read more at the New York Times, the Chicago Tribune, Bloomberg, CNN Money and the International Business Times.
Reacting to this development, Neil Steinberg, in the Chicago Sun-Times, asks "How can anyone go bankrupt selling junk food?"