About 300 employees of Northeast Philadelphia’s Hostess bakery are expected to lose their jobs as part of a company-wide liquidation plan.
Hostess Brands Inc. on Friday asked a federal bankruptcy court for permission to close its business and sell its assets, including its “iconic brands and facilities,” the Irving, Texas, based company said in a printed statement.
The financially failing company cited an ongoing labor strike by the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union — which reportedly represents about 30 percent of its 18,500-member workforce — as the immediate cause of the liquidation. Hostess in January filed for Chapter 11 bankruptcy protection, its second bankruptcy reorganization in a decade.
The 82-year-old company is known for manufacturing Twinkies, Ding Dongs and Ho Hos, along with Wonder Bread, Drakes and Dolly Madison brand products. ••