Hostess files for Chapter 11 bankruptcy protection

Hostess Twinkies

Copyright Getty Images

Advertisement

Posted: 01/11/2012

NEW YORK (AP) -- Hostess Brands Inc., the maker of Twinkies and Wonder Bread, is filing for bankruptcy protection, blaming troubles with its pension and medical benefits obligations, increased competition and tough economic conditions.
  
The Chapter 11 filing on Wednesday comes just two years after a predecessor company emerged from bankruptcy proceedings.
  
The privately held Irving, Texas bakery company says it will be able to maintain routine operations thanks to a $75 million financing commitment from a group of lenders.
  
Reports had surfaced earlier in the week that the company was planning to make such a filing.
  
Hostess said that it will look to restructure into a "strong, competitive" company. It will continue to run bakeries, outlet stores and distribution centers and deliver its goods during the process.
  
Hostess operates in 49 states, including Oklahoma.

A Wonder Bread bakery located in midtown Tulsa employs more than 100 people.

No word on how that facility will be affected.

Copyright AP Modified, Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Comments
Advertisement
 

Bartlesville news


  1. Bville United Way ranks No. 12 in nation

    Bville United Way ranks No. 12 in nation

    Bartlesville Regional United Way recently announced the results of United Way’s annual report for 2011.

    • BPD seeks suspect in shooting death

      BPD seeks suspect in shooting death

      Around 10:30 p.m. police responded to a shots-fired call in northwest Bartlesville near Adaline and Margarita.

      • Bville district GPA second highest in OK

        Bville district GPA second highest in OK

        Information gathered through Bartlesville Public Schools’ shows the district’s grade point average from the State Department of Education ranks above most schools in Northeast Oklahoma

        • Five businesses open in downtown Bville

        • Accused Bville plotter pleads not guilty

          • BVille plotting suspect ruled competent

            Celebrity News


            1. Jaden Smith freaked out by bug

              Jaden Smith freaked out by bug

              Teenage star JADEN SMITH freaked out during a junket interview for his new film AFTER EARTH at the weekend (17May13) when a giant bug rested on the arm of his chair.

              • Justin Bieber partners with…

                • Demi Lovato honors ex Joe Jonas…

                  • Sugar's departure is bittersweet…

                    • Max George loved living the…

                      • Stay Connected