Hostess Going Bankrupt

RIP, Twinkie The Kid

Say it ain’t so! No more Ding Dongs, HoHo’s, Honey Buns, or—gasp!—Twinkies?!?! That’s right, kids. The mass-market bakers we all know and love, Hostess, is going out of business after 82 years. The closing comes after a long, cripplingly expensive fight and national strike by union workers. Though Hostess managed to come to an agreement with the Teamsters Union, the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union refused to agree to concessions that included a pay cut and a change to the pension plan, and according to CEO Gregory Rayburn, Hostess “(did) not have the financial resources to weather an extended nationwide strike.” That means most of its 18,500 employees across the country will find themselves without jobs just before the holidays. The only possible silver lining here (like layer of frosting, perhaps?) is that though Hostess could no longer function as a company, there is still high demand for its beloved brands, which still have equity and will likely be scooped up by other companies and may still find their way onto shelves yet. And continue to live on in our hearts (single tear).