Twinkies In Trouble? Hostess Files Bankruptcy...

No more twinkies? Say it isn't true. Hostess Brands, a Texas based company filed for Chapter 11 Bankruptcy protection on January 11, 2011 while continuing to operate but the signs of trouble continue to appear for the maker of Twinkies, Ho Hos and Wonder Bread..

The latest issue .. The Teamsters Union which represents approximately 1/2 of the company's  employees are threatening to strike if the company imposes what they deem as "unfair" contract terms, including wage cuts.

According to the Union,  more than 90 percent of its' Hostess members voted to authorize a strike if "unfair contract terms" are approved as part of the bankruptcy proceedings and  a hearing set for March 5th where a U.S. Bankruptcy judge will have 30 days to issue a ruling.

This isn't the first rodeo for the company comprised of 36 bakeries - Hostess previously filed for bankruptcy in 2004 and re-emerged in 2009. The company has about $860 million in debt.

A spokesman for Hostess declined to comment on the Teamsters’ announcement.

Posted in Chapter 11 Bankruptcy , hostess bankruptcy , twinkies bankruptcy