Answered: Why is Hostess going out of business?
Today, the world was shocked to learn that Hostess (iconic creators of the delicious Twinkie snack) were going out of business. We’ve received multiple e-mails asking if we knew exactly, how, or even why they’re headed for closed — and in fact, we do.
According to Hostess representatives, they filed for Ch. 11 protection following a sudden bankruptcy about a month ago. This reportedly resulted in their debt bills amassing in total $1billion and beyond [unfortunately they're assets only totaled about $500million].
However Hostess isn’t the only business preparing to go out with a bang in 2012. Other reports suggest that retailers like Sears & K-Mart for example. Those chains in specific have already started their mass close down to sell their properties.
Everyone should go out and buy some twinkies, you know you want to!! We need to support this afternoon cartoon watching heavenly treat.
RIGHT? We totally understand the obesity thing in schools which contributes a tremendous part to the failure of Twinkies.. But gosh… This is the BEST treat ever
( It’s gonna suck to see it go away.
As a retired Dolly Madison (Dolly Madison was bought out by Hostess) employee, I’d have to say it’s due to bad (and greedy) management. When the management takes the employees pension contributions from their wages and doesn’t put them in the pension fund and keeps them, it seems there is a BIG problem.