The maker of Twinkies, Ding Dongs and Wonder Bread had warned employees that would file a motion in U.S. Bankruptcy Court to unwind its business and sell off assets if plant operations didn't return to normal levels by 5 p.m. EST Thursday. That would result in the loss of about 18,000 jobs.
Hostess Brands decided this morning to close. How much would you pay for the Twinkie brand?
The closing will result in Hostess' nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees.