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Friday, November 16, 2012 - 1:50pm
IRVING, TX — The maker of Twinkies, Wonder bread and other products says it's filed a motion to close is business.
Hostess brand filed the motion with the U.S. bankruptcy court.
The company will sell its assets and facilities and lay off all 18,500 workers. Officials say a nationwide strike by workers crippled its ability to make and deliver it products.
Bakery operations have been suspended at all plants.
However, delivery will continue and hostess brand retail stores will stay open for several days to sell off already baked products.
One of the company's largest unions, BCTMG, initiated a nationwide strike last week after rejecting a final offer in September from hostess designed to lower costs so the company could emerge chapter 11.
Company CEO Gregory Rayburn said hostess does not have the financial resources to weather an extended nationwide strike.
The company is based in Irving, Texas.