RIP Twinkies: Hostess About To File For Bankruptcy, Again

Flickr user marc dalio

Even though we knew it was coming, the news that junk food overlords Hostess Brands are going under is still kind of a bummer. Where else will we get our indestructible desserts now?

The company is preparing to file for bankruptcy protection—for the second time since 2009—in what's known as a Chapter 22 filing (you know, Chapter 11 times two). They're more than $860 million in debt, and owe over $50 million to vendors, all at a time where Twinkie sales have been down and customers are moving away from Wonder white bread and more toward healthy whole grains. Is no PB&J safe?

Slate notes that the last time Hostess went bankrupt, the amusingly-named Mexican bakery conglomerate Grupo Bimbo wanted to buy them out and failed, so it's possible they'll try again this time. "Tragically," notes the blog, "the linguistic issues continue to make it unlikely that we'll see Pan Bimbo branded as such outside niche marketplaces."

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By Jamie Feldmar in Food on January 10, 2012 1:31 PM

Comments [rss]

Adam Moreira

Not surprised that this is happening; they just cannot compete with Bimbo, which is essentially the 500-pound gorilla these days.

I would not be surprised if the company ended up being sold piece by piece.

Dead Himmler

It's funny how when companies file for bankruptcy the pundits on wall street usually say that it was a good strategic decision. However, when individuals file for bankruptcy it is morally reprehensible. I thought corporations are considered people? Very confusing.

unretrofiedforu

Because its totally ok to play around with people's hard earned money and careers in the name of 'business'.

Bought a house perhaps a little above your means simply cuz you can? Jeez, you must definitely be the devil incarnate.

Not a respectable businessman like Mitt Romney and Dick Cheney.

Politburo

Wow that blog is woefully uninformed.

Bimbo is already sold in the US under that name, in regular white-bread grocery stores (had to do it..)

sluggita

good riddance to garbage "food". They are an unhealthy remnant of the past.

Gothampc

Mayor Bloomberg shouldn't you be attending to the city's needs rather than posting on Gothamist?

schmeep

You obviously didn't read the comment above you. "Twinkees are still available." {sic}

sluggita

I did read it, but it's a matter of time. I was being very time general, not specific. Thanks.

ThreeAndNine

I'm torn between being amused and frustrated that every time there's an article in Gothamist about a corporation's Chapter 11 filing, the approach taken is that it means the end of the company or whatever product it sells. That's not what Chapter 11 is (bankruptcy protection, as you wrote above, get it?). It's especially amusing and/or frustrating that the same approach is being taken here while the very same article notes that Hostess already went through bankruptcy in 2004... yet, Twinkies are still available.