Hostess announces Chapter 11 Bankruptcy for Reorganization

Hostess Ding Dongs - Hostess

(Best Syndication News) - Hostess Brands, Inc. announced today that they have filed petitions for Chapter 11 bankruptcy for reorganization. This was a voluntary action by the company and its five subsidiaries.

Hostess was able to get $75 million in debtor-in-possession (DIP) financing, however, this is subject to court approval.

The company announced that they plan to continue operating their bakeries, outlets stores, and distribution centers as usual during the Chapter 11 bankruptcy proceedings.

Hostess brands include Butternut®, Ding Dongs®, Dolly Madison®, Drake's®, Home Pride®, Ho Hos®, Hostess®, Merita®, Nature's Pride®, Twinkies® and Wonder®.

Hostess is a privately owned company and was founded in 1930 in Irving, Texas. According to Hostess, they currently operate 36 bakeries, over 570 bakery outlet stores, 565 distribution centers, and have around 5,500 delivery routes throughout the United States. Hostess employee around 19,000 people.

Hostess anticipates that the Chapter 11 reorganization will help the company to return the operation to a competitive wholesale baker.

By: Dave Reddy



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