The maker of Twinkies is going bankrupt. And they make not only Twinkies, but also Ho Hos, Ding Dongs, SnoBalls, SmartBakes, Zingers, SuzyQs, and more.
The company, Hostess Brands, filed for Chapter 11 bankruptcy today. However, they said that during the bankruptcy process, it would be business as usual. The company also said they do not plan to lay off employees nor close plants.
Chapter 11 is the type of bankruptcy that companies often use to reorganize their debt. The company says it currently owes more than $1 billion to creditors, including union pension funds.
Hostess Brands owns a number of brands, Hostess, of course, also Home Pride, Merita, Wonder (bread), Nature’s Pride, Drakes and Beefsteak. Distribution of these products is not expected to be affected during the bankruptcy proceedings.