Hostess Files For Bankruptcy
January 10, 2012 by staff
According to the Wall Street Journal, it could happen as soon as this week.
Reports suggest the company is facing high labor costs, and rising prices for ingredients, such as sugar and flour. It is also carrying a lot of debt.
This would be the second significant court restructuring for Hostess, which is a privately held company.
The company, then called Interstate Bakeries, filed for bankruptcy protection in 2004.
It only recently emerged in February 2009.
Hostess Brands employs about 19,000 workers and operates in 49 states.
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