It's hard to believe, but iconic snack maker Hostess is shutting its doors. In bankruptcy court the company said they wanted to liquidate -- and they're blaming striking workers who rejected a new contract. "We deeply reject the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," CEO Gregory Rayburn said this morning.
Whatever the reason for Hostess going out of business, it's shocking to think there may be a time when we stop seeing Twinkies and other classic sugary snacks on store shelves. Maybe Hostess couldn't keep up with the times? In the past few years, Americans have been choosing snacks with more "natural" ingredients. But there's still a lot of nostalgic love for those Hostess cakes. Maybe some smart company will snap up the brand and re-release the snacks with an ingredient makeover. We can only hope!
In the meantime, join us on a little tour through the Hostess Hall of Snacking Fame -- with recipes.
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Comments 36
This company has been in trouble for years and it's really sad to see another company closing. I remeber growing up in Philly and driving by hostess and smelling all the sweet stuff they were making. At least we still have tastykakes.
"BCTGM members voted to strike Hostess after the company imposed cuts that included ending payments to the employees’ pension plan while executives awarded themselves massive bonuses. Among the raises was a 300 percent raise (from approximately $750,000 to $2,550,000) for the then-CEO of Hostess. At least nine other top executives of the company also received massive pay raises, including one who received a pay increase from $500,000 to $900,000 and another received one that brought his salary from $375,000 to $656,256."
Sorry...but the only "ding dongs" here are the striking union workers who refused to see reality and cost 18,500 workers their jobs.
The company has been in trouble for years (they've filed for bankruptcy before) and yet, there are people on here who blame Obama and the Democrats. Really? Maybe it's poor management.