“Hostess Brands Inc., the company that makes Twinkies and Wonder Bread, has asked a judge for permission to go out of business and lay off 18,500. The company is blaming its decision to shut down on a labor strike by members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union, but Americans’ appetite for junk food has been waning in recent years. ‘We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,’ Gregory F. Rayburn, Hostess’ chief executive, said in a statement.”
http://www.latimes.com/business/money/la-fi-mo-hostess-to-go-out-of-buiness-20121116,0,3714808.post
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