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Twinkies Maker Preparing for Chapter 11 Filing
The Wall Street Journal ^ | January 10, 2012 | Mike Spector and Julie Jargon

Posted on 01/10/2012 6:45:05 PM PST by 6SJ7

Hostess Brands Inc. is preparing to file for Chapter 11 bankruptcy protection as soon as this week, said people familiar with the matter, a move that would mark the second significant court restructuring for the Twinkies and Wonder Bread baker in the past several years.

The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company's roughly $2.5 billion in annual sales, creating losses and cash shortfalls, the people said.

Hostess also owes more than $50 million to vendors, which have been demanding payments on shortened time frames because of Hostess's financial condition, one of the people said. Most of those goods and services were provided to Hostess within the past three weeks or so.

Hostess's filing would mark what is known as a Chapter 22 proceeding in restructuring circles, since the company had already sought bankruptcy protection once before.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; US: Texas
KEYWORDS: bondcollapse; chapter11; default; dollarcollapse; economy; interstatebakeries; teamsters; twinkies
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A Twinkie may survive forever, but the company may not.
1 posted on 01/10/2012 6:45:15 PM PST by 6SJ7
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To: 6SJ7

Hostess are the highest priced packaged cup-cakes in the grocery store.


2 posted on 01/10/2012 6:46:44 PM PST by Rebelbase
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To: 6SJ7

Have you tried a Twinkie recently? I did and I swear it was just awful. The company must have changed the recipe or something. The cake part was dry and the filling was grainy. Certainly tasted different than say... ten years ago. IMHO.


3 posted on 01/10/2012 6:48:02 PM PST by momtothree
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To: 6SJ7

Now this takes the cake.


4 posted on 01/10/2012 6:49:45 PM PST by cicero2k
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To: 6SJ7

“A Twinkie may survive forever”

Actually they don’t. I bought a couple boxes back in the 90’s and put them in the pantry for spare treats. 12-packs I think.

I had a few over the next couple weeks.

About a couple weeks later I look and there are half-dozen all green and furry still inside the plastic. Including the 12-pack I had never opened.


5 posted on 01/10/2012 6:50:10 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: F15Eagle

They cost too much, store brand or Little Debbie is cheaper.


6 posted on 01/10/2012 6:53:20 PM PST by Mmogamer (I refudiate the lamestream media, leftists and their prevaricutions.)
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To: F15Eagle

Note to self: Clean out the pantry! Green, furry Twinkies may be lurking inside. LOL!


7 posted on 01/10/2012 6:53:55 PM PST by momtothree
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To: 6SJ7

rising prices for sugar, flour and other ingredients

Inflation


8 posted on 01/10/2012 6:54:08 PM PST by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: momtothree

Maybe it’s just your tastebuds that got ten years older. They Tweekies I had the other day tasted great!


9 posted on 01/10/2012 6:54:48 PM PST by ngat
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To: ngat

If it had been just me then I would agree. However, the kids said they tasted “weird” as well. Granted, I don’t purchase them all the time but the two older ones said they didn’t “taste the same”. Perhaps a “bad box” or they changed the recipe to reduce the calories or cut costs?


10 posted on 01/10/2012 6:58:02 PM PST by momtothree
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To: 6SJ7
The Twinkie can be used to restart civilization after the SHTF.


11 posted on 01/10/2012 7:02:07 PM PST by Clock King (Ellisworth Toohey was right: My head's gonna explode.)
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To: momtothree

How could you possibly demonize the snackcake that gave rise to a criminal defense against charges of going postal on a liberal?


12 posted on 01/10/2012 7:06:27 PM PST by ngat
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To: ngat; momtothree
Maybe it’s just your tastebuds that got ten years older. They Tweekies I had the other day tasted great!

I couldn’t stand Twinkies when I was a teenager; Just too sweet and not much flavor other than a little vanilla.

I might of liked them when I just a kid but we could not afford junk food until I was a late teen.

13 posted on 01/10/2012 7:06:46 PM PST by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: F15Eagle

That is not possible. It is a well-known fact that the shelf life of Twinkies is a bit over 100 years.


14 posted on 01/10/2012 7:09:30 PM PST by ngat
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To: 6SJ7
I also think that Hostess changed the Twinkies recipe.

Back in the mid-1970s, nothing was better than a couple of Twinkies. I used to spend a good part of my newspaper delivery money on Twinkies. After school each day, I'd stop at the local variety store (this was before convenience stores) and get a root beer and a two-pack of Hostess Twinkies for the walk home. Those Twinkies were delicious, soft sponge cake exterior that would stick to your fingers and a tasty cream filling that would make your head spin (due to the sugar high).

Twinkies do not taste that way today.

15 posted on 01/10/2012 7:10:32 PM PST by SamAdams76 (I am 29 days away from outliving Marty Feldman)
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To: 6SJ7
Companies run badly wind up in ruins.
16 posted on 01/10/2012 7:11:37 PM PST by Glenn (iamtheresistance.org)
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To: momtothree

Or perhaps the QA is slipping.


17 posted on 01/10/2012 7:12:07 PM PST by Squawk 8888 (Tories in- now the REAL work begins!)
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To: Pontiac

Haven’t you ever tried a deep-fried Twinkie with raspberry dipping sauce on the side at a State Fair?


18 posted on 01/10/2012 7:14:24 PM PST by ngat
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To: Rebelbase

That is true. They are not competitively priced.


19 posted on 01/10/2012 7:14:37 PM PST by Anti-Bubba182
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To: 6SJ7

20 posted on 01/10/2012 7:17:26 PM PST by PA Engineer (Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: 6SJ7

Have you ever had one frozen? Delicious!! Honestly, this is very sad news and I mean that.


21 posted on 01/10/2012 7:17:51 PM PST by Saundra Duffy ( For victory & freedom!!!)
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To: 6SJ7

Twinkie the Kid rides no more. Sad.


22 posted on 01/10/2012 7:19:17 PM PST by Huskrrrr
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To: 6SJ7

Oh no! No twinkies at queer weddings?


23 posted on 01/10/2012 7:19:17 PM PST by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: Saundra Duffy

I misread the title as “Chapter 11 FILLING” (as opposed to “creme” filling) and wondered what bankruptcy actually tasted like.


24 posted on 01/10/2012 7:20:12 PM PST by thecodont
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To: Rebelbase

“Hostess are the highest priced packaged cup-cakes in the grocery store.”

That’s true. Almost prohibitively so - at least to me anyway.


25 posted on 01/10/2012 7:22:02 PM PST by MplsSteve (Amy Klobuchar is no moderate. She's Al Franken with a nicer smile.)
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To: 6SJ7

Forget the Twinkies. It’s the chocolate cupcakes filled with marshmallow that I’ll miaa. Also those choxolate, coconut covered snowball cupcakes that are dyed green for St. Paddy’s day.


26 posted on 01/10/2012 7:31:52 PM PST by Gumdrop
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To: 6SJ7

The power of suggestion. I haven’t had one in years. Probably won’t go through the night without getting one.


27 posted on 01/10/2012 7:33:19 PM PST by Dogbert41
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To: momtothree
>"Certainly tasted different than say... ten years ago. IMHO"

How do you know it wasn't ten years old now?

Sounds like you bought both Twinkies from the same batch.


bing forever happy meal

28 posted on 01/10/2012 7:40:13 PM PST by rawcatslyentist (It is necessary that a person be born of a father who is a citizen; ~Vattel's Law of Nations)
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To: Glenn

“Companies run badly wind up in ruins. “

Companies held hostage by labor unions end up in ruins.

Same old story - The unions bled the company, the company didn’t have enough money left to make improvements in production and distribution efficiency, all while having to charge higher prices and fund overloaded pension plans.

Result: Sales fall while costs are not contained, followed by losses and inability to pay suppliers.

This is their second filing since 2004. And it was predictable.

Don’t bet money on them surviving this one.

Some other company may buy some trademarks and product formulas in the liquidation.


29 posted on 01/10/2012 7:41:15 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: Gumdrop

Yeah, the great Hostess Cupcakes! I loved those things. Haven’t had one, or even thought of one in years. Come to think of it, don’t think I’ve seen one in years.


30 posted on 01/10/2012 7:44:07 PM PST by pepperdog (Why are Democrats Afraid of a Voter ID Law?)
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To: 6SJ7
Noooooooo!!!!!!!
31 posted on 01/10/2012 7:44:21 PM PST by JR97FLYERS
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To: 6SJ7

The CAFTA trade agreement was supposed to put those rotten American sugar farmers with huge capital investment in harvesting and storage equipment out of business and allow ‘lower’ priced imports in from the Dominican Republic harvested by Haitian slaves. This they claimed, was going to be a great boon to America.

‘free traitin’ “free traders” do in another business and 19,000 jobs.


32 posted on 01/10/2012 7:48:12 PM PST by hedgetrimmer
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To: 6SJ7

I hope this doesn’t mean I can’t have my favorite breakfast anymore. After all, even a garage full won’t last forever.


33 posted on 01/10/2012 7:50:42 PM PST by count-your-change (You don't have to be brilliant, not being stupid is enough.)
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To: 6SJ7

With the Hostess bankruptcy filing, hopefully all of these cupcakes disappear:

-Snowballs
-Twinkies
-LSU football team


34 posted on 01/10/2012 7:54:07 PM PST by RobertClark ("Governments are instituted among Men, deriving their just powers from the consent of the governed")
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To: Gumdrop
It’s the chocolate cupcakes filled with marshmallow that I’ll miaa. Back when I "played" in a "band," we would get a box of Hostess™ Ding Dongs before our practice sessions to keep us going.
35 posted on 01/10/2012 7:59:28 PM PST by FreedomOfExpression
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To: 6SJ7
But who will answer calls at Nakatome Plaza?


36 posted on 01/10/2012 8:00:25 PM PST by Larry Lucido
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To: 6SJ7

I always liked Twinkles.


37 posted on 01/10/2012 8:05:26 PM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Gumdrop
It’s the chocolate cupcakes filled with marshmallow that I’ll miaa.

Back when I "played" in a "band" in the late 1980's, we would get a box of Hostess™ Ding Dongs before our practice sessions to keep us going.
Mmmm, I love chocolate with cream filling!

38 posted on 01/10/2012 8:05:32 PM PST by FreedomOfExpression
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To: FreedomOfExpression

Oops, premature posting. If it happens again, I’ll see a doctor.


39 posted on 01/10/2012 8:07:46 PM PST by FreedomOfExpression
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To: ngat

No I don’t do much Fair food.

My stepson tried a deep fried Snickers bar that he raved about though.


40 posted on 01/10/2012 8:19:08 PM PST by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: momtothree

IMO it’s not just Twinkies that taste different but I opened a box of Raisin Bran the other day and the taste and appearance was different. Just two of a whole string of foods that are just no longer the same. Makes me very angry. Seems like nothing tastes the same as it used to.


41 posted on 01/10/2012 8:25:26 PM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Rebelbase

I haven’t seen a Hostess product in years. At the grocery store it’s all Little Debbie and at convenience stores it’s some off brand. The best Hostess product was French Pastry but they didn’t carry it for long back in like the ‘70s.


42 posted on 01/10/2012 8:30:03 PM PST by bgill (The Obama administration is staging a coup. Wake up, America, before it's too late.)
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To: 6SJ7

The finest dessert in the world is a frozen Hostess cupcake with a glass of cold, whole milk. Period!


43 posted on 01/10/2012 8:34:43 PM PST by szweig (HYHEY!! (Have You Had Enough Yet))
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To: 6SJ7

Nooooooooooo. Not Twinkies. As Queen of the Twinkies how did this happen? Why wasn’t I told? Heads will roll I tell ya.


44 posted on 01/10/2012 8:34:43 PM PST by Conservative4Ever (Waiting for the new tagline to download)
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To: Grams A

“Seems like nothing tastes the same as it used to.”

Seriously, you might want to mention that to your doctor.


45 posted on 01/10/2012 8:34:59 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: Nik Naym

Hard to think of a more disgusting food than a twinkie.


46 posted on 01/10/2012 8:42:17 PM PST by bicyclerepair ( REPLACE D-W-S ! http://www.karenforcongress.com)
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To: SamAdams76
Twinkies do not taste that way today.

I agree. Ring Dings don't taste the same either. I wonder if they changed the filling.

Ah, but now Funnybones, they are as good as ever.

47 posted on 01/10/2012 8:44:20 PM PST by World'sGoneInsane (We Can Take OUR Country Back--Perry 2012)
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To: 6SJ7
It is far too late to help Harvey Milk.
48 posted on 01/10/2012 9:18:20 PM PST by Lonesome in Massachussets (Ceterum autem censeo, Obama delenda est.)
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To: bicyclerepair

“Hard to think of a more disgusting food than a twinkie.”

They aren’t my cup of tea either. But when did I say anything about twinkies?????


49 posted on 01/10/2012 9:18:33 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: momtothree

Actually at one point they had a light Twinkie. It was less calories, less sweet and lighter. Much better than the original...guess it didn’t catch on cause they disappeared. Well, now looks like the original is gonna dissappear too!


50 posted on 01/10/2012 10:15:48 PM PST by jackieh
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