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Twinkie maker Hostess files for bankruptcy
Jan 12, 2012, 0:03 GMT
Washington - Iconic US snack maker Hostess, famous for its Twinkie cakes, filed for bankruptcy Wednesday.
The bankruptcy came only three years after another restructuring.
Hostess in a statement blamed the latest bankruptcy on a sluggish economy and costs tied to pensions and medical benefits. The Irving, Texas-based company intends to withdraw from pension plans and modify collective-bargaining agreements with unions, according to court documents.
Hostess claimed total assets of about 982 million dollars and total liabilities of about 1.4 billion dollars as of December 10, according to court papers.
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