By Brandon Lewis, Staff Writer
Attention all Twinkie lovers! The Daily Free Now’s official Twinkie reporter, aka yours truly, has good news. Your favorite snack has a good chance of returning to store shelves this summer!
I’m sure everyone remembers Hostess’s announcement that they were filing for bankruptcy last November. Twinkies, Wonder Bread, and other Hostess products have not been produced since the company’s fallout. I honestly believed that Twinkies were never going to appear in stores ever again. But they received a reprieve.
According to an article by the New York Times, in an effort to liquidate its business, Hostess has been auctioning off its various brands over the past four months. Metropoulos & Co. and Apollo Global Management agreed to buy the Hostess cake brand for a whopping $410 million. Since no other qualified bids were submitted, Metropoulos & Co. and Apollo Global Management will become the new owners of Hostess products.
In a statement, Metropoulos & Co. CEO and founder Dean Metropoulos said the firm was looking forward to having “America’s favorite snacks back on the shelf by this summer.”
So after all the drama and chaos surrounding the demise of the Hostess empire, Twinkies will likely return to stores this summer. Who would’ve thought? It’s great to see that companies actually had interest in continuing the production of Twinkies and other Hostess products like Sno Balls and Ho Hos. Americans have been enjoying these snacks for over 80 years and it would have been a shame for the snacks to just disappear from American culture. Luckily this won’t happen. All in all, I would like to personally thank Hostess for my mini-heart attack and slight depression for the past few months. I now have a new reason to look forward to the summer: an all-American snack will be returning to grocery store shelves.
By Brandon Lewis, Staff Writer
The company responsible for the production of Twinkies, Ding Dongs, Wonder Bread and more is currently winding down its operation. Hostess won permission from a bankruptcy judge to fire thousands of employees and to close many bakery centers, distribution centers and outlet stores across the country, according to many news outlets last week. The company plans to keep a drastically reduced number of employees while the company is being sold. It’s the end of a bunch of the junk food your parents let you have.
Their situation is sadly not unique. Companies that have been operating for a substantial amount of time are falling victim to the unstable economy. Many stores are trying to stay relevant by becoming online retailers. I guess their transition to cyberspace is a way of keeping their companies alive. I can’t imagine ordering Twinkies and Ding Dongs from online. That would just be weird.
Hostess is now the one to bite the bullet. A few days ago, a judge OK’d the company’s request to close its doors, according to the Associated Press. It’s slowly fading into extinction with its decision to lay off a significant chunk of its workforce. It’s pretty unfortunate that thousands of workers will be handed pink slips during a time of the year when we all need extra cash to buy holiday gifts. But a few thousand are being kept while the company “winds down.”
I always wondered: how does one decide who keeps their job and who is fired? Hostess has thousands of dedicated employees, and I’m sure every single one of them believes in his or her right to remain employed. Surely all Hostess employees are starting their job searches in preparation for their employment’s imminent end.
But who, if anybody, will buy Hostess? Flower Foods Inc., the maker of Tastykake and Nature’s Own baked goods, is one of the contenders, according to a Sunday article in The Wall Street Journal. Last week, the company said it had renegotiated lending terms so that could allow it to tap additional cash for expenses. This is a signal that it could be gearing up to make a bid. Other companies such as Sun Capital Partners Inc. and Great American Group Inc. have also expressed interest in the Hostess brand. Only time will tell what happens to Hostess and its junk food empire. Hopefully, if hostess is bought, its successor will continue to produce those tasty treats that make the world go round. I’d say it’s only right.