Union shuts down Hostess bakeries
"The Board of Directors authorized the wind down of Hostess Brands to preserve and maximize the value of the estate after one of the company's largest unions, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), initiated a nationwide strike that crippled the company's ability to produce and deliver products at multiple facilities," Hostess said in the statement.
Truly tragic. While I believe that unions serve a valuable purpose, clearly they shot themselves in the foot this time.
In a statement, Hostess said its bakery operations have been suspended at all plants and that it would lay off most of its 18,500 workers to focus on selling its assets. It said it has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including 33 bakeries and 565 distribution centers.
The move shuts down one of the nation's oldest and largest producers of baked goods. Founded in 1930, it produces such well-known brands, aside from Twinkies, as Ding-Dongs, Ho Ho's, Sno Balls and Donettes, not to mention Wonder bread, which the company says is the best-selling white bread in the United States.
I expect that another bakery will ask to buy the recipe for some of their products, especially the bread since it is such a winner.
Here is a link that might be useful: source