Hostess Brands, maker of such iconic brands as Twinkies and Wonder Bread, is closing down after a labor fight and putting the company’s assets up for sale, The Wall Street Journal reports.
The Irving, Texas, company, which has a Wonder Bread plant in Denver, said most of its 18,500 employees will be laid off. Hostess Brands is asking permission from the U.S. Bankruptcy Court to sell off its assets. All of the company’s bakery operations have been suspended.
CEO Gregory Rayburn posted a statement online announcing the decision. In the statement, he said: “Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands.”
Wow this is the end of a legacy. Hostess Brands, Inc.—founded as Interstate Bakeries Corporation (IBC) in 1930—was the largest wholesale baker and distributor of bakery products in the United States, and is the owner of the Hostess, Wonder Bread, Nature’s Pride, Dolly Madison, Butternut Breads, and Drake’s brands.
Here is a complete list of what will cease:
If there are any workers out there who want to speak on what happened, let us know!
Originally seen on http://elev8.com/