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Hostess Files For Bankruptcy

| Filed under: Business BlitzFood

Hostess Bankruptcy

Twinkies can survive nuclear blasts, but can they survive their parent company going bankrupt?

Probably not. Hostess is filing for bankruptcy.

But don't worry! The company will keep running while they file, and while they get their $75 million loan in order.

"We remain hopeful that we can reach an agreement that will allow us to amend our labor contracts so that we can emerge from Chapter 11 as a highly competitive company that provides secure jobs for our employees."

This is a bad sign for their employees — but we have to ask — is this a good sign for health? Are people not eating as much junk food like this??

They owe more than $860 million, and have 19,000 employees.

Oh, and they did file for bankruptcy once before, in 2004, but it looks like that didn't really work.

So - we wonder what's going to happen now??

[Image via AP Images.]

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