Goodbye Twinkies; Hostess Brands goes bust

[Don]

http://money.msn.com/top-stocks/post.as ... d2257b7594


Hostess Brands, the maker of Twinkies, Ho-Hos and Ding Dongs, filed for bankruptcy protection for the second time since 2004 in the face of mounting debt, skyrocketing prices for ingredients and the adoption of more healthful lifestyles.

The company, which has about $860 million in debt, sought protection from creditors after failing to reach an agreement with workers on pensions and benefits, according to Reuters . The company has arranged for $75 million in debtor-in-possession​ (DIP) financing from a group of its existing first-lien lenders, led by Silver Point Capital.

According to a press release, Hostess will continue operating its bakeries, outlet stores and distribution centers and doesn't anticipate any disruptions to product manufacturing during the bankruptcy.

"Hostess has some of our industry's most powerful and resilient brands," said president and chief executive officer Brian Driscoll . "With generations of loyal consumers, numerous iconic products and a talented and experienced work force, Hostess Brands has tremendous inherent strengths to build upon."

The Teamsters Union released a statement saying the union "remains committed to working with all stakeholders during the bankruptcy to find a mutually agreeable solution, if possible." It represents more than 7,500 of the company’s nationwide fleet of delivery drivers and merchandisers

Hostess wasn't able to change with the times. A Wall Street Journal story recently noted that its whole-grain bread, Nature's Pride, " hasn't sold well compared with some rivals amid a small presence on shelves," citing Mitchell Pinheiro, a Janney Montgomery Scott analyst. A Hostess spokesman, Lance Ignon, counters that sales for the 52-week period ended December 15, 2011 were up 12.3% to $100 million. Nature's Pride was the 5th largest product introduction in the grocery industry in 2010, according to IRI, he said.

Its other products are being hurt by the growing awareness of the obesity epidemic sweeping the country, especially among children. That trend is particularly evident with respect to Hostess' signature product, Twinkies.

Twinkie inventor James Dewar swore by the cream-filled cake he invented in 1930 and ate at least two packets of them a week before he died in 1985 at age 88.

"Some people say Twinkies are the quintessential junk food, but I believe in the things," the Los Angeles Times quoted him as saying. These days, many consumers don't share Dewar's heartfelt dedication to what were once dubbed "the cream puff of the proletariat."

Twinkies have an "F" grade from the nutrition website Calorie Count because they pack 150 calories. That means that the snacks have evolved from a daily treat in kids' lunches to an occasional food. Little wonder that Twinkie sales are flat.

[AR]

My fondest memory of Hostess was cutting out the baseball cards on the back of twinkies boxes in the 70's.

[artist4perry]

This guy is going to be pissed.

http://youtu.be/MeS6DvyLScE

[tater1977]

This guy is going to be pissed.

http://youtu.be/MeS6DvyLScE

[TRAGChick]

Hostess Brands, the maker of Twinkies, Ho-Hos and Ding Dongs, filed for bankruptcy protection for the second time since 2004 in the face of mounting debt, skyrocketing prices for ingredients and the adoption of more healthful lifestyles.

[steveo777]

Haven't had Twinkies in awhile, I will add a box to my shopping list for tomorrow.

Yep, get 'em while you can.

[yulog]

They have already dropped in price here, went from 3.59 to 2.00 here ....the good thing is you can buy all you want now and save them, i hear they have a 50 yr shelf life

[steveo777]

They have already dropped in price here, went from 3.59 to 2.00 here ....the good thing is you can buy all you want now and save them, i hear they have a 50 yr shelf life

We moved a few years back and found a package of twinkies that was about 15 years old. I ate one, it tasted funny, and I almost puked. The rest of the package went into the trash.
Doritos, on the other hand, are true geek food. I found a half eaten package behind my computer desk during the same move. I ate one and it didn't taste half bad, but shortly afterwards, I felt this incredible urge to pick a fight with Chuck Norris. He has, so far, failed to respond to my request, but William Shatner appeared, asking for a half eaten bag of Doritos, saying something about wanting to take them to space and feed them to Monkeys.

[No Surprize]

They have already dropped in price here, went from 3.59 to 2.00 here ....the good thing is you can buy all you want now and save them, i hear they have a 50 yr shelf life

We moved a few years back and found a package of twinkies that was about 15 years old. I ate one, it tasted funny, and I almost puked. The rest of the package went into the trash.
Doritos, on the other hand, are true geek food. I found a half eaten package behind my computer desk during the same move. I ate one and it didn't taste half bad, but shortly afterwards, I felt this incredible urge to pick a fight with Chuck Norris. He has, so far, failed to respond to my request, but William Shatner appeared, asking for a half eaten bag of Doritos, saying something about wanting to take them to space and feed them to Monkeys.

LOL! Great post man.

[artist4perry]

They have already dropped in price here, went from 3.59 to 2.00 here ....the good thing is you can buy all you want now and save them, i hear they have a 50 yr shelf life

We moved a few years back and found a package of twinkies that was about 15 years old. I ate one, it tasted funny, and I almost puked. The rest of the package went into the trash.
Doritos, on the other hand, are true geek food. I found a half eaten package behind my computer desk during the same move. I ate one and it didn't taste half bad, but shortly afterwards, I felt this incredible urge to pick a fight with Chuck Norris. He has, so far, failed to respond to my request, but William Shatner appeared, asking for a half eaten bag of Doritos, saying something about wanting to take them to space and feed them to Monkeys.

LOL! Great post man.

So in other words...... a normal day for you? What are you lacing those Doritos with?

[whirlwind]

Hostess Brands, the maker of Twinkies, Ho-Hos and Ding Dongs, filed for bankruptcy protection for the second time since 2004 in the face of mounting debt, skyrocketing prices for ingredients and the adoption of more healthful lifestyles.

You got it!
There was something in the news today about how much that we consume is shipped from other countries that use chemicals and crap outdated in our country. Juices from inferior apples from China and fruits and orange juice from out of the country.

Most of those snack cakes are a far cry from the original product imo. The prices kept going up and the product diminished in size and quality.

[Don]

I've never bought Twinkies any place other than the Wonder Bread Store where they're usually a buck a box. It's not like they are capable of expiring or anything.

[Don]

I've never bought Twinkies any place other than the Wonder Bread Store where they're usually a buck a box. It's not like they are capable of expiring or anything.

You sound just like me except that both of the closest Wonder Bread Outlets to us have closed. When our kids were young that place was a life saver, expecially for school lunch type stuff. Maybe that's why I never have Hostess in the house much anymore.

We go though about three loaves of bread a week. At 79¢ each, the place is a must shop stop.

[Michigan Girl]

Refrigerated Ding~Dongs, a staple, I've been eating them
since I was a child. Back then we used to play outside,
run, jump, ride bikes ...don't recall obesity being a problem
then.

[DrFU]

Refrigerated Ding~Dongs, a staple, I've been eating them
since I was a child. Back then we used to play outside,
run, jump, ride bikes ...don't recall obesity being a problem
then.

That's cause they shrink when refrigerated ...

[Gin and Tonic Sky]

Refrigerated Ding~Dongs, a staple, I've been eating them
since I was a child. Back then we used to play outside,
run, jump, ride bikes ...don't recall obesity being a problem
then.

Thats just it, on a summers ay when I was a kid I'd slam down hostess cupcakes, a twinkies and a snoballs, cheese n crackers, bottle caps. And I was a chain smoker - candy cigarettes I d wash it down with a a couple bottles of Nesbitts Orange Pop. If I felt I needed to get some dairy into my diet, we'd ride our bikes down to dairy queen for a few dilly bars or parfaits.

I was skinny as rake because we would go outside at 8am only coming in at lunch time, dinner time and bed time.
We ran around constantly, playing war , cowboys and injuns, star trek, kickball, smear the queer, kiss me if you catch me (and I was an ugly fucker so those girls would run real fast for a real long damn time! ) bike races. Id eat four thousand calories a day and I was still always hungry as shit.