Hostess Brands is closing for good, after multiple trips to bankruptcy and a Bakers’ union strike put the final nails in their coffin. So if you want to get your Twinkie on, you’d best stock up.
UPDATE 12:17pm — Mashable reports that some people are selling some damn Twinkies for $10,000.
Over 18,500 people working for Hostess are about to be out of a job as their CEO is asking federal bankruptcy court permission to shut down operations and shutter the company.
The blame is being placed on the Bakers’ union, currently on strike from Hostess. CEO Gregory Rayburn said the company simply didn’t have the “financial resources to weather a nationwide strike” and that it was “too late” even if the Bakers’ union stopped their strike today.
Hostess will move to sell off its assets to the highest bidder. Which means someone will definitely buy the Twinkie. But will it be the same? Will it? I don’t think so. It’s not the same.
What will Zombieland do, now?
Having gone to bankruptcy court in 2004 and most recently this January, their money troubles have been long standing. Hostess had made a contract offer to the unions with reduced wages. The Teamsters, with the encouragement of their higher-ups, accepted the contract.
The Bakers’ union, which is one of the smaller unions Hostess has to deal with, rejected the contract and went on strike.
From the Teamsters’ statement on the matter:
It is difficult for Teamster members to believe that is what the [Bakers' union] Hostess members ultimately wanted to accomplish when they went out on strike.
For their part, the Bakers’ union say that the company was responsible for its own finances and its own downfall, and that management is to blame for the condition the company is currently in.
All I know is that Little Debbie is not the damn same. And I’m upset that the cupcakes are going away.
Question: What snack are you stocking up on?