IRVING, Texas (BHN) - After failing to reach an agreement with striking unions, Hostess Brands announced today that it is ceasing operations, laying off all 18,500 employees, and liquidating all assets.
The company’s largest union, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), had initiated the nationwide strike after rejecting an offer made through bankruptcy court. Hostess was forced to declare bankruptcy last January after years of union demands had crippled the company's profitability.
In reaction to the news, a union spokesman said, "I'm pretty sure we've got them right were we wanted them. Crap."
Anti-Twinkie/Ho Ho/Sno-Ball/Ding Dong advocate Michelle Obama called the demise of Hostess "really awesome news."
Union workers "hang around" vacant plant of former employer Hostess Brands