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Twinkies Maker Goes Belly Up

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CHICAGO, IL – NOVEMBER 15: Hostess Brands products are shown on November 15, 2012 in Chicago, Illinois. Hostess Brands Inc. has warned striking workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that it will move to liquidate the company if plant operations don’t return to normal levels by this afternoon. (Photo by Scott Olson/Getty Images)

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DALLAS (CBSMiami) – The joke used to be that the only thing that could survive a nuclear war were cockroaches and Twinkies. But it turns out, Twinkies’ maker Hostess said Friday that a workers strike has killed the company that made snack food along with Ding Dongs, Ho Ho’s and other products.

Hostess announced Friday it is going out of business, closing up its plants, and will lay off all 18,500 workers. The company also said it would put itself up for sale.

Hostess had previously warned employees it would shut down its business and liquidate if they didn’t return to work by Thursday night. The Teamsters had previously agreed to a contract with Hostess, but a second union went on strike and refused to let wages and benefits be cut.

Hostess has been in business since the 1930’s.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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