Friday, November 16, 2012

Bankrupt Hostess to Shutter Facilities Nationwide, Including in Idaho

Posted By on Fri, Nov 16, 2012 at 9:34 AM

As expected, Hostess announced this morning that it will wind down its operations, which includes nine Idaho facilities.

Today's announcement detailed the end of the 82-year-old company that introduced the iconic Twinkies and Ho Hos. The pending shutdown follows a Chapter 11 filing and the company's inability to settle labor differences with its biggest unions.

But Twinkies, Ho Hos and Ding Dongs may ultimately survive when and if the company is liquidated and another manufacturer purchases its brands.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Gregory F. Rayburn, Hostess’ chief executive, said in a statement this morning.

Hostess runs 33 bakeries and 565 distribution centers across America. The vast majority of its 18,500 employees are expected to be laid off.

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