If you like eating Twinkies, it might be time to eat your last one for a while or even ever.
Twinkies Maker Hostess to Liquidate Company if Strikes Persist
By JEANETTE TORRES
Nov. 15, 2012
The end for Twinkies may just be hours away. Hostess Brands Inc., the maker of the iconic snack, announced on Wednesday that it will liquidate the entire company if not enough striking employees return to work by Thursday evening.
“We simply do not have the financial resources to survive an ongoing national strike,” Hostess CEO Gregory Rayburn said in a statement Wednesday. “Therefore, if sufficient employees do not return to work by 5 p.m., EST, on Thursday to restore normal operations, we will be forced to immediately move to liquidate the entire company, which will result in the loss of nearly 18,000 jobs.”
If the strike continues, Hostess said it will file a motion on Friday to wind-down the company and sell all of its assets. If the U.S. Bankruptcy Court grants the motion, the company will then begin to close all of its operations as early as Nov. 20.
Read more at ABC News.
Will the unions stand their ground and possible put 18,000 people out of work?
Stay tuned on Friday.