Hostess Brands Files for Bankruptcy Protection

By: Associated Press
By: Associated Press
Hostess Twinkies and CupCakes. (Credit: AP)

Hostess Twinkies and CupCakes. (Credit: AP)

Hostess Brands Inc., the maker of Twinkies and Wonder Bread, is filing for bankruptcy protection, blaming troubles with its pension and medical benefits obligations, increased competition and tough economic conditions.

The Chapter 11 filing on Wednesday comes just two years after a predecessor company emerged from bankruptcy proceedings.

The privately held Irving, Texas bakery company says it will be able to maintain routine operations thanks to a $75 million financing commitment from a group of lenders.

Reports had surfaced earlier in the week that the company was planning to make such a filing.

Hostess said that it will look to restructure into a "strong, competitive" company.

It will continue to run bakeries, outlet stores and distribution centers and deliver its goods during the process.

Hostess operates in 49 states.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLN-TV Call: (402) 467-4321 Toll-free: 1-800-475-1011 840 North 40th Lincoln, NE 68503 Email: info@1011now.com KGIN-TV Call: (308) 382-6100 123 N Locust Street Grand Island, NE 68802 Email: kgin@1011now.com KSNB-TV Toll free 888-475-1011 123 N. Locust St. Grand Island, NE 68802 Email : ksnb@1011now.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 137087248