This sucks because I always did enjoy Hostess snacks. But I can't help feeling that it's partially their own fault. There is a sweeping trending toward healthier snacks in the country right now, and Hostess didn't try to alter their old product line or create anything new in order to meet it.
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Nicholas Croston (BaronSamedi3)
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By December 2011 it was reported that Hostess Brands was on the verge of filing for bankruptcy a second time after it suspended payments for union pensions and was struggling to remain current on its $700 million loan.
On January 10, 2012 Hostess Brands filed For Chapter 11 Bankruptcy for the second time. In a statement in its filing the company said it "is not competitive, primarily due to legacy pension and medical benefit obligations and restrictive work rules." The company said it employs 19,000 people and carries more than $860 million in debt. The company said it would continue to operate with $75 million debtor-in-possession financing from Monarch Alternative Capital, Silver Point Capital and other investors.