Twinkies Maker Files for Bankruptcy

Rumor has it that Twinkies have an infinite shelf life*, but unfortunately the maker of the famous snack may not enjoy such longevity.

Hostess Brands Inc, the company that makes Twinkies and Wonder Bread, has filed for Chapter 11 bankruptcy protection, blaming high debt and labor costs:

The privately held Irving, Texas, company's move marks the second significant court restructuring in the past several years. In a statement, Hostess said the current cost structure "is not competitive, primarily due to legacy pension and medical benefit obligations and restrictive work rules." It said it would be able to maintain operations thanks to a $75 million financing commitment from a group of lenders.

In bankruptcy, Hostess said it plans to continue negotiating with 12 unions to modify the collective-bargaining agreements governing the employment of its union workers, who comprise 83% of its approximately 19,000 employees.

Better stock up on Twinkies! Link - via Metafilter

* Declared false by Snopes, but we still suspect that you can safely eat a Twinkie much longer than its purported expiration date

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The idea that Twinkies don't get old is ridiculous. Yes they may not change much in appearance but grab an out of date Twinkie and take a bite, it's disgusting. They get stale and rancid fast.
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Now I feel like I was supremely selfish when I didn't buy a box of their little waxy chocolate donuts and little powdery sugary donuts tonight. I was just thinking of my own fat ass and didn't think at all about their legacy pension and medical benefit obligations. I hope they can some day forgive me.
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