After more than 80 years of filling bellies with sugary snacks—including Twinkies, the cream-filled sponge cakes so impervious to the elements that they could supposely survive a nuclear armageddon—Irving, Texas–based Hostess Brands Inc. said Friday that it will wind down its operations and, with the U.S. Bankruptcy Court’s approval, liquidate all of its assets.
The announcement came as the bankrupt company—which is also known for such iconic products as Ho Hos and Wonder Bread, as well as the Dolly Madison and Drake’s brands—remained mired in a stand-off with its largest labor unions.
