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Hostess files for bankruptcy protection

Posted on Friday, January 13th, 2012 at 6:59 pm    

Hostess Brand, famous for making Twinkies and Wonder Bread, has filed for bankruptcy protection for the second time in about eight years.

Before the Twinkies maker was called Hostess Brand, it was named Interstate Bakeries. Interstate Bakeries filed for bankruptcy in 2004 and emerged as Hostess in 2009.

The company cites high medical benefits cost and pension as a reason for its financial troubles. The 19,000 Hostess employees have formed a union, which increases the company’s benefits. Hostess Brand plans to continue operations and deliveries of its products during bankruptcy proceedings.

Hostess estimates its liabilities at more than $1 billion.

If you are having financial problems and considering filing for bankruptcy, contact the Joliet bankruptcy lawyers of The Law Offices of Stuart B. Handelman, P.C. at 312-360-0500 to learn about your options.