Posted on 01/14/2012 2:43:44 PM PST by Cronos
The maker of snack cakes including Twinkies, Ho Hos, and DingDongs has filed for Chapter 11 bankruptcy protection. But a company spokesperson has assured that production of the famous cream-filled treat will continue as usual for now.
“Throughout the proceeding, we’re going to operate business as normal,” said Hostess spokesman Erik Halvorson, according to CNNMoney. “They’ll keep making Twinkies.”
Hostess declared bankruptcy for the first time in 2004, and didn’t emerge until 2009, an unusually long time for the situation. Even more unusual is the second Chapter 11 filing (or “Chapter 22,” in some legal circles) so soon after.
Hostess blames unions and pension plans for their latest troubles, but many critics point the finger at the company’s “failure to freshen up a stale product line and keep up with consumers’ changing tastes”, as the Washington Post puts it.
But even if Hostess doesn’t survive this crisis, there’s a good chance that Twinkies will. Defunct companies can still sell of their intellectual property, like a brand name; and as CNN reports elsewhere, potential buyers were already looking in to the possible value of the iconic snack titles:
Buyers have made multi-million dollar bets on brand names like Polaroid, Sharper Image and even Borders that continue to resonate with consumers even after the parent company has liquidated.
What do you think? Will America ever be without Twinkies?
[Image via John D. Moore]
Well now. That calls for some brain bleach.
we are being laffed at by the people stocked their bomb shelters with those yummie treats
I tried a pair a couple of years ago and found them a weak phantom of their former selves (like when I wuz a kid).
Now try SpaghettiOs® {{{{SHUDDER}}} and see how that stacks up against memory.
It’s called “the twinkie defense.” Ugh!!
Do Twinkies ever go bad?
For which Americans pay the highest price in the world because of tariffs designed to protect the sugar industry. Of course, we've lost a big chunk of our candy manufacturers to Mexico because of it, soda pop tastes like crap, and -- now -- our beloved Twinkies are endangered, too.
But the protectionists tell us they know what they're doing.
Another business bites the dust. Michelle’s fault!
Don’t worry, the Chinese LOVE them, and will buy the company out and rename them “Chinkies”.
Baskin Robbins hasn’t been that great lately. The last couple of batches of Chocolate Chip Cookie Dough was lacking in sweetness and really in cookie dough bits.
Apparently, I picked the wrong night to give up vodka.
Nevermind the Twinkies, but there is no match out there for Hostess chocolate cupcakes!
What will they deep fry at state fairs?
At least then I will still be able to take out my frustrations on the little yellow ba$tards.
Seek help immediately, things never get bad enough to give up vodka :^)
“Nevermind the Twinkies, but there is no match out there for Hostess chocolate cupcakes!”
Those little powdered Sweet Sixteen donuts are better than Entemans, tooo.
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