Hostess; manufacturer of Twinkie, Ding Dongs, Cupcakes and Snowballs is closing down and liquidating their assets to the highest bidder. The cause of this monstrosity is a union strike by the Bakery, Confectionery, Tobacco Workers and Grain Miller International Union. It was the strike that halted the companies production allowing the already sinking company to capsize.
The BCTGM's decision to reject Hostess's final offer designed to lower costs so that the company could stay profitable ultimately lead to the decision to claim bankruptcy.
Hostess plans to lay off nearly 18,500 employees, shut down 33 bakeries, 565 distribution centers, 5,500 delivery routes and 570 bakery outlet stores throughout the United States.
Read more on this below:
Washington Post: "Spare the Twinkie, Hostess"
Hostess Brands: "Hostess Brand Is Closed"