No More Twinkies— World Wide Twinkie Shortage Ensues [VIDEO]

It's like saying that the American Flag will no longer be red, white and blue. Hostess, the company who makes Twinkies has announced that it will be closing their doors.

I don't want to start a panic, but Hostess makes (made) some other popular snacks as well.

Here is the official statement from the Hostess Website:

November 16, 2012 – Hostess Brands Inc. today announced that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic brands and facilities. Bakery operations have been suspended at all plants. Delivery of products will continue and Hostess Brands retail stores will remain open for several days in order to sell already-baked products.

Hostess Brands is unprofitable under its current cost structure, much of which is determined by union wages and pension costs. The offer to the BCTGM included wage, benefit and work rule concessions but also gave Hostess Brands’ 12 unions a 25 percent ownership stake in the company, representation on its Board of Directors and $100 million in reorganized Hostess Brands’ debt.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” said Gregory F. Rayburn, chief executive officer. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”

The Company’s motion asks the Court for authority to continue to pay employees whose services are required during the wind-down period.

Here is a Vintage Hostess Twinkie Commercial