Tuesday, January 10, 2012

Twinkie Company Files for Bankruptcy

The Hostess Brand Inc. that makes Twinkie's and Wonder Bread may be going out of business. The business recently had to file for Chapter 11 bankruptcy:


"The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company's roughly $2.5 billion in annual sales, creating losses and cash shortfalls, the people said." -- According to the Chicago Tribune.




Wow! I haven't had a Twinkie in yearssss, but those used to be the snacks to have in middle school. And, this isn't the first time the Hostess company has had to file for bankruptcy. 

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