Hostess Bakeries Planning to Close – When Was YOUR Last Twinkee?
Today we heard about the filing by Hostess Bakeries for ‘wind down’, meaning that they are seeking to close operations. The sad news will reportedly impact some 18,000 workers across 36 plants. Hostess has spent all of 2012 in Chapter 11 Bankruptcy protection working to reorganize operations to find a way to stay afloat. Unfortunately, according to the Wall Street Journal, this year has seen commodity costs rise and demand for products decline. As if that wasn’t bad enough, the major union for the company declared a work stoppage last week that shut down the majority of operations. This sort…