Hostess Shutdown Possible If Not Enough Striking Workers Return To Work Thursday

 

 Hostess Brands Inc. is going through with a liquidation threat. The iconic company that produces Twinkies, Ding Dongs and Wonder Bread announced Friday it is winding down operations.
Hostess said it has filed a motion with the U.S. Bankruptcy Court to close its businesses and sell its assets.
The company is dealing with a nationwide worker strike. Union workers hit the picket lines a week ago in several cities. On Thursday, Hostess warned that it would liquidate if they didn't return to work.

"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike. Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders," the company said in a statement.