Hostess moves to liquidation, thousands face unemployment - WAFF-TV: News, Weather and Sports for Huntsville, AL

Hostess moves to liquidation, thousands face unemployment

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MEMPHIS, TN -

(WMC-TV) - Hostess, the company famous for Twinkies and Wonder Bread, announced it will apply for liquidation and close down for good.

Hostess employees went on strike last week after rejecting a contract offer that cut wages and benefits in September. Thursday, Hostess reportedly gave the workers a 4 p.m. deadline to end their protest.

The company says the strike hurt production, but the workers refused to leave the picket line. And today, the snack food company announced it will close for good. 

That means more than 18,000 employees nationwide, and hundreds who work at the distribution center near President's Island in Memphis, face unemployment.

"I've been here 26 years I was within 2 years of getting my retirement," said Hostess employee Randy Golden.

"What's next for them is unemployment. File for unemployment look for other jobs until a new owner comes in and buys it and they get re-hired," said James Rivers, B.T.C.G.M Union.

Disgruntled Union Members say starting over may be the best thing for Hostess, if someone will buy the company and continue making their legendary snacks.

Hostess, which is based in Irving, Texas, said its stores will stay open for several days to sell remaining products. It will reportedly begin to close all operations as soon as Tuesday, two days before Thanksgiving.

The news about Hostess is causing store shelves to sell out of its snack cake supply.

News of the company closing is trending online. Many say they will miss the soothing smell of freshly baked Wonder

Bread wafting through downtown Memphis. And on EBay, a box of 10 Twinkies has already hit $59.99.

Copyright 2012 WMC-TV. All rights reserved.

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