Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Hostess Bankrupt - No More Twinkies?!
Posted
November 17, 2012
Views
69,692
Likes
1,300
Comments
821
Engagement
3.04%
November 17, 2012
69,692
1,300
821
3.04%
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4:22Now Playing"Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
The 82-year-old Hostess, which has about $2.5 billion in sales and is one of the largest wholesale bakers and distributors of breads and snack cakes in the United States, filed the request with the U.S. Bankruptcy Court in New York early Friday morning. A hearing on the matter is set for Monday.
The Irving, Texas-based company said the liquidation would mean that most of its 18,500 employees would lose their jobs. Hostess immediately suspended operations at all of its 33 plants across the United States as it moves to start selling assets."*
Cenk Uygur, Ana Kasparian, and Ben Mankiewicz discuss why Hostess is going out of business, what is to become of Twinkies and other snack cakes, and whether they'll ever be back in some iteration.
*Read more from Carey Gillam and Tanya Agrawal/ Reuters
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