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Current Events & Hot Topics Current Events & Hot Topics

The end of Twinkies?

Posted by on Nov. 14, 2012 at 5:49 PM
  • 44 Replies

Twinkies maker Hostess says may close, cites strike

Wed Nov 14, 2012 5:30pm EST

(Reuters) - Hostess Brands Inc said it will ask a U.S. bankruptcy judge for permission to liquidate if enough striking workers do not return to work by the end of Thursday to let the maker of Twinkies and Wonder Bread resume normal operations.

The announcement escalates a bitter dispute between the company and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, whose members comprise about one-third of Hostess' nearly 18,000 employees.

Unionized workers at Hostess plants across the country had gone on strike or refused to cross picket lines on November 9 to protest court-ordered pay cuts.

Hostess said that, if enough striking workers did not return to work by 5 p.m. EST (2200 GMT) on Thursday, the company would on Friday ask U.S. Bankruptcy Judge Robert Drain in White Plains, New York, who oversees its Chapter 11 reorganization, for permission to shut down and sell assets.

"We simply do not have the financial resources to survive an ongoing national strike," Hostess Chief Executive Gregory Rayburn said in a statement.

The Irving, Texas-based company previously reached agreement on pay and benefit cuts with the International Brotherhood of Teamsters, its largest union.

A spokesman for the bakers' union was not immediately available for comment.

Hostess said if it wins permission to liquidate, it will begin to close all operations as soon as November 20, two days before Thanksgiving, and fire all plant workers except those needed to prepare its facilities for sale.

Earlier this week, Hostess said the strike forced it to permanently close three of its 36 bakeries, costing 627 jobs.

It said on Wednesday that it still has 65 distribution centers and 570 bakery outlet stores, as well as the 33 other bakeries.

Hostess filed for protection from creditors on January 11, its second bankruptcy filing in less than three years, after failing to win concessions on pension and health benefits. The company had about $860 million of debt at the time.

Founded in 1930, Hostess' brands also include Drake's cakes, Home Pride bread and Dolly Madison ice cream.

The case is In re: Hostess Brands Inc, U.S. Bankruptcy Court, Southern District of New York, No. 12-22052.

by on Nov. 14, 2012 at 5:49 PM
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Replies (1-10):
ashellbell
by shellbark on Nov. 14, 2012 at 5:51 PM
7 moms liked this
Woody Harrelson (sp) will be pissed.
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ChancesMommy07
by Silver Member on Nov. 14, 2012 at 5:53 PM
1 mom liked this

Well that makes me sad. I just made a Twinkie pie yesterday :-(

Kitschy
by on Nov. 14, 2012 at 5:53 PM
Never had one.
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annabl1970
by Platinum Member on Nov. 14, 2012 at 5:56 PM
1 mom liked this
I saw them striking while ago near hostess store.
IMO better accept pay-cut than lose the job.
P.S. never cared for their produce, but would be sad see them going out of business and workers losing their jobs.
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lizmarie1975
by Gold Member on Nov. 14, 2012 at 6:13 PM
1 mom liked this

As long as Drakes stay operational...the world would be a sad place to live without Devil Dogs.

Claire-Huxtable
by on Nov. 14, 2012 at 6:41 PM
2 moms liked this
Yep

Unions are always about protecting the worker.
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Homeschoolmom99
by Barb on Nov. 14, 2012 at 6:50 PM
2 moms liked this

So now in this world they would rather lose said job then take a pay cut? What may I ask will they do for work now? We like it or not are in a depression! I am back in school and I work part-time and my wife and I still need to sell plasma to make ends meet!

AMBG825
by on Nov. 14, 2012 at 6:54 PM
Not really. That wasn't a real Twinkie.

Quoting ashellbell:

Woody Harrelson (sp) will be pissed.
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lga1965
by on Nov. 14, 2012 at 7:15 PM
1 mom liked this
The company owns "Home Pride."bread which is really good .

I had a bite of a Twinkie once but it was too sweet. I won't miss them.
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yourspecialkid
by Platinum Member on Nov. 14, 2012 at 7:17 PM
1 mom liked this

 Sickening.  Something kind of similar happened at our old school district in Oregon....the district wanted 5 furlough days..the union said no (without a vote by the teachers) and 50 teachers ended up getting fired...making the average classroom size range from 40-45 kids.

I can't imagine the loss of Wonder Bread.  Every now and then I buy a loaf...I grew up on their white bread...a couple of slices and a piece of bologna gives me serious comfort.

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