Famous for processed treats like Twinkies, Hostess Brands says it will go into liquidation if striking bakers don't return to work Thursday. Analysts say the company's most iconic brands would likely be bought by other companies.
Twinkies maker Hostess Brands Inc., is again seeking protection from its creditors, filing for Chapter 11 bankruptcy as the company tries to cope with high debt and rising costs of labor and raw materials.
Hostess, which also makes Ho Hos, Sno Balls, and Wonder Bread, is a privately held company based in Irving, Tex. It owes millions to suppliers and labor unions. The company has reportedly found some financing to keep it running during bankruptcy proceedings.