No More Twinkies? Hostess Shutting Down

Hostess, the company that makes Twinkies, Ho-Hos and fruit pies is going out of busines, and the local outlet store's last day might be Monday.

It’s not too late to get a Twinkie or Ho-Ho, but you might want to hurry since the Hostess outlet store, 5340 W. Loomis Road, could close Monday.

Hostess Brands, makers of those and other iconic snacks, announced Friday that it filed a motion in U.S. Bankruptcy Court for permission to go out of business. The company failed to reach an agreement with striking workers, and now plans to lay off all 18,500 employees and liquidate assets.

Nationally, Hostess mailed notices in May to all 18,500 Hostess Brands employees about the potential for layoffs.

An employee at the local Hostess on Loomis Road said the store’s last day might be Monday.

The Wall Street Journal reported Friday that the remaining Hostess inventory will likely be sold to a big-box store or discounter.

The fates of the timeless brands remain uncertain. It will be decided by a bankruptcy court auction run by Hostess's investment bankers, or perhaps determined by a group of liquidators.

The company tried to find a buyer for the business, and did receive some viable proposals for a certain pool of assets, but no one wanted the whole thing. Parts of the business might continue to operate in the hands of a new buyer, if found.

Johnny Paycheck November 16, 2012 at 08:47 PM
Current inventory is expected to last for the next 1,000 years.


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