Time to stock up on Twinkies to sell in a few years on E-bay since they have a immortal life span.
Workers at Hostess plants across the country had gone on strike or refused to cross picket lines on November 9 to protest pay cuts that Hostess had in bankruptcy court won the right to impose. That prompted the company at the time to raise the specter of liquidation in case of a widespread strike.
On Wednesday, Hostess said that if enough striking workers did not return to work by 5 p.m. ET the next day, the company would on Friday ask U.S. Bankruptcy Judge Robert Drain in White Plains, New York, who oversees its Chapter 11 reorganization, for permission to shut down and sell assets.
"We simply do not have the financial resources to survive an ongoing national strike," Hostess Chief Executive Gregory Rayburn said in a statement.