Hostess Says Company Is Going Out Of Business - New York News

Hostess Says Company Is Going Out Of Business

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The baking giant Hostess says it is going out of business.

The maker of Twinkies, Ding Dongs and Wonder Bread made the announcement Friday morning after setting a deadline for 5 p.m. Thursday for striking workers to return to work.

If employees refused, Hostess said it would start liquidating the company.

Hours after that deadline, neither side was backing down.

Hostess then said it would be sometime Friday before they made a decision about liquidation. Then, an announcement came just after 7 a.m.

The move means picketers, including those at the Northeast Philadelphia plant, could be out of jobs.

The employees originally started striking because of a contract that would cut wages and benefits.

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