Video: Hostess Files Bankruptcy
COLUMBUS, Miss. (WCBI) – Hostess Brands is going out of business. Its closing plants and outlets across America, including some close to home. Will household names like Twinkie and Wonder Bread vanish?
The news hit the wire late Thursday night that Hostess Brands Incorporated had filed for bankruptcy. With that news comes the layoff of more than 18,000 employees.
The late 80’s TV sitcom The Wonder Years captures life during the 1960’s when times were a little more simple. Wonder Bread had already been around for a while, but a brilliant marketing campaign, in the 60’s, made it a household staple. Now that its parent company Hostess Brands Incorporated is filing for bankruptcy, Wonder and other favorites like Twinkies and Ding Dongs face an uncertain future.
Long time Hostess employee Vanessa Henry says, “It’s over with. What ever is left tomorrow will be half price. Everything in the store.”
Vanessa Henry is only one of the more than 18 thousand employees who have been laid off. After an employee strike crippled production and delivery, Hostess filed a motion seeking permission to start shuttering its operations and selling assets. Company officials set a deadline for this past Thursday. If you like to chow down on Hostess products, you should probably get to the store and quick.
Henry says, “They’ll have to get everything at the grocery store. They’re going to pay twice the price that they’ve been paying all these years.”
Customers are taking notice, stocking up on all their goodies.
For years Wonder Bread has been blessing households all across the country but the Hostess bankruptcy news is more than just about loosing some childhood favorites. It’s about loosing jobs and several of those will be here locally.
Henry says, “I don’t know. It’s a major company that I’ve worked for for 14 years.”
Vanessa’s story is like so many across the country. With 565 distribution centers, 33 bakeries and 570 bakery outlet stores closing their doors times are going to be a little tougher this holiday season.
Accordsing to Henry, “It’s just not going to be easy, it’s just not going to be easy. God will supply some how or another. We’ve always made it and I’ll continue to make it.”
Reasons for the strike include the company ceasing payment into the retirement fund, raising insurance premiums by 17% and cutting wages by 8%.
If anyone is interested in hiring any of the employees laid off. Contact Vanessa Henry at 662-435-0584