Hostess Brands Says It’s Going Out Of Business
Hostess Brands says it's going out of business, closing plants that make Twinkies and Wonder Bread and laying off all of it's 18,500 workers. The company made the announcement early Friday morning.
Workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union across the country have been on strike for a week. The company said that it means the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores throughout the United States. 400 people are employed at the plant in Biddeford, Maine. Hostess chief executive officer, Gregory F. Rayburn says, "Hostess Brands will move to lay off most of it's 18,500-member workforce and focus on selling it's assets to the highest bidders."