Hostess Brands is closing its doors for the last time
New York, New York, United States – November 16, 2012 – Today, CEO Gregory Rayburn announced that Hostess Brands will have to close down its entire company due to bankruptcy. The company has been battling with bakery strikers and cannot keep up their operation without those employees contributing to production. More information on the continual battle with strikers can be accessed here:Strike Information.
“The closing will result in Hostess’ nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees”. For the entire story, please visit: Hostess Brands Closing.
The Hostess empire will be auctioned off to the highest bidder throughout the next several months. The president believes that this will be able to give the popular Hostess products, such as Twinkies and Wonder Bread, the opportunity to still be available to consumers. That choice, however, remains with the winner of the auction.
At the close of business on Friday, Hostess released numbers indicating they had been the Number 2 manufacturer of bread in the entire country. A list of other top bread producers can be found at Top Bread Producers. Being a top bread production company helped Hostess reach nearly 2.5 billion dollars in income throughout the last year.