You might want to stock up on your favorite Hostess snacks now, because the iconic brand responsible for Twinkies and Wonder Bread is going out of business.
According to Hostess brand representatives, the company cannot recoup from the nationwide strike that their plant workers went on last week. Workers stopped manufacturing the tasty goods in protest to a contract that would cut their pay wages and healthcare benefits. As a result, 18,500 workers will be laid off and the Hostess brand is going up for sale. Three plants were already closed earlier this week.
The private company, which was founded in 1930, has been on shaky ground for a while, being that it filed for Chapter 11 bankruptcy in January. In a letter posted on the company website, CEO Gregory F. Rayburn 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.”
In addition to Twinkies and Wonder Bread, we also have to say bye-bye to Ding Dongs, Ho Ho’s and Dolly Madison. It’s a sad day for snackers, indeed.