The cookie crumbles, Hostess going out of business
Fri, 16 Nov 2012 12:34:42 GMT —
Hostess Brand Inc. officials announced Friday morning they will ask a bankruptcy judge for permission to liquidate, according to the Associated Press.
The maker of Twinkies, Ding Dongs and Wonder Bread said if striking Bakers Union workers did not return to operations by the end of the work day on Thursday, they would shut down. According to PR Newswire, the company decided last night that not enough workers had returned to resume normal operations.
"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory F. Rayburn. "Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders."
Last night after the 5 p.m. deadline, Northwood Hostess workers still picketing outside of the bakery were anxious about the possible shutdown.
"Pretty soon, I'm not going to be able to feed my kid. That's scary, it's very scary," said Melissa White, nine year employee at the Northwood plant.
Co-worker Mark Popovich, a 21 year veteran of the plant, echoed the same feelings. "I think we're all concerned. We're very concerned, what we would actually like is for them to renegotiate with us."