Hostess closing its doors - 18,500 out of a job

Reported by: CBS47 News
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Updated: 11/16/2012 1:16 pm
Unable to reach an agreement with its bakers union, the Hostess company is shutting down, including locations in the Valley.

The company is known for Twinkies, CupCakes, Ring Dings, Ding Dogs, Ho Ho's, Sno Balls, Suzy Q's, Fruit Pie, Donettes, as well as Wonder Bread, Nature's Pride, Home Pride, Dolly Madison and more.

As part of the bankruptcy agreement, Hostess may sell its brands, so some of these favorites may show up on store shelves again under a new owner.

The company announced on Wednesday they would be forced to liquidate if striking workers did not return to work on Thursday. 

The company posted this statement to their website: "We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” said Gregory F. Rayburn, chief executive officer. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders."

Unable to meet production demands, the company began liquidating and is closing all 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlets stores throughout the country, including the Fresno locations at Weber and Dakota and Gettysburg and Chestnut.

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