Hostess files for Chapter 11
NEW YORK — The maker of Twinkies and Wonder Bread has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
Irving, Texas-based Hostess Brands carried $860 million in debt and also faced high labor costs and rising prices for sugar and other ingredients that exceeded its annual sales of about $2.5 billion, according to published reports. Hostess previously filed for bankruptcy protection in 2004 and emerged in 2009.
The company has about 19,000 employees at 36 bakeries and 570 outlets nationwide, as well as 5,500 delivery routes and 565 distribution centers, according to its website.