Buy Your Twinkies Now! Local Hostess Store Closing
Hostess, the company that makes Twinkies, Ho-Hos and fruit pies, is going out of business, and the local outlet store's last day might be Monday.
Photos
Updated at 11:30 a.m. Sunday: The store ran out of Twinkies, Ho-Hos, fruit pies and most other snacks, but had plenty of bread, hamburger and hot dog buns, and dinner rolls on hand as of Sunday morning.
All product was half price, and a store employee said the shop would likely remain open until Monday — depending on when the product ran out.
Business was steady but not overwhelming as one cashier took care of customers.
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Original story
It’s not too late to get a Twinkie or Ho-Ho, but you might want to hurry since the Hostess outlet store, 5340 W. Loomis Rd., could close Monday.
Hostess Brands, makers of those and other iconic snacks, announced Friday that it filed a motion in U.S. Bankruptcy Court for permission to go out of business. The company failed to reach an agreement with striking workers, and now plans to lay off all 18,500 employees and liquidate assets.
Nationally, Hostess mailed notices in May to all 18,500 Hostess Brands employees about the potential for layoffs.
An employee at the local Hostess on Loomis Road said the store’s last day might be Monday.
The Wall Street Journal reported Friday that the remaining Hostess inventory will likely be sold to a big-box store or discounter.
The fates of the timeless brands remain uncertain. It will be decided by a bankruptcy court auction run by Hostess's investment bankers, or perhaps determined by a group of liquidators.
The company tried to find a buyer for the business, and did receive some viable proposals for a certain pool of assets, but no one wanted the whole thing. Parts of the business might continue to operate in the hands of a new buyer, if found.
JustMe
1:31 pm on Friday, November 16, 2012
Hostess products are not that good any more. Over priced and tastes stale.
Nicki
7:13 am on Saturday, November 17, 2012
They've had no marketing in so long, a lot of people don't even realize they're still in business! Sad to see an icon of one's youth just disappear.
Dick
7:36 am on Saturday, November 17, 2012
Way to go bakers union. How's that holding out to get what you want going for you now? Not only did you lose your jobs at 15.00 an hour, you caused everyone not in the union to not have a job also. If you didn't like it there, then you have the option to go somewhere else. The company was in trouble, they have no more to give, and you hold out for more? Does this truely make sense to you? Such a shame that all these 18,000 people are out of work now when they could still have a job, even if it was at 8% less. 8% of 15 is better then 8% of nothing. My prayers go out to those who lost their jobs, especially right before the holidays. So sad.
Bren
12:27 pm on Saturday, November 17, 2012
Here's an article about the mayor of St. Louis knowing for months that their Hostess plant was closing: http://stlouis.cbslocal.com/2012/11/13/slay-i-was-told-months-ago-about-hostess-closure/
In the past few years Hostess employees have taken major wage and benefit concessions while executive leadership has received raises. The CEO for example, makes more than $2 million/year. Instead of blaming unions, I suggest that obsolete product offerings, failure to adapt to changing tastes, led to the company's decline. Vulture leadership is taking as much salary as possible then letting the company fall. (This is not an unfamiliar storyline here in Milwaukee, either.)
My prayers also go out to the hardworking people who are losing their jobs. One has to ask how difficult it would have been for leadership to research and expand bakery operations to include healthier options.
J. B. Schmidt
4:24 pm on Saturday, November 17, 2012
@Bren
Our President collects a check for considerably more then what most american's make, yet he is president of a country who is seeing its citizen's income levels drop. You have never posted a comment attacking his pay.
Please explain where $2 million each year would have fit in the financials of Hostess to make it a viable company. Also, can you verify that he is able to actually set his own pay.
Bren
10:24 pm on Sunday, November 18, 2012
J.B., what has the president to do with this? Income levels are dropping because of offshoring and the recession, in part. The board likely negotiates the salary with the president as happens in most companies. Please feel free to add to my research.