Hostess Brands, a US-based manufacturer of brands such as Twinkies and Ding Dongs, is closing its operations and has filed a motion with the bankruptcy court in New York in order to sell its assets.
The company was plagued by surging debts, management issues, increasing labour costs and altering tastes of consumers, reported Bloomberg Businessweek.
On 16 November, the company declared that it would not be able to restructure and instead was seeking the court's permission to sell its business operations.
Currently, its bakery operations have been halted at its facilities, although it said, the delivery of products will continue and its retail stores will not be closed immediately.
The company, which employs more than 18,000 employees, was founded in 1930. It owns 33 facilities, 570 retail stores and 565 distribution centres across the US. Hostess filed for bankruptcy protection in January this year too.
