Hostess Goes Out Of Business: 5 Facts You Did Not Know About The Twinkie
Hostess Brand, an 82-year-old food company once celebrated for its iconic Twinkies, Wonderbread, and Ding Dongs, have now filed for bankruptcy and looks to sell and liquidate its assets, including the iconic brand name.
Workers across the country went on strike until Thursday night due to Hostess Brand's wage and benefit cuts. Unfortunately, the strike backfired when the company offered an ultimatum to workers that the company will crumble if they do not return to work by Thursday. In the end, Hostess could not withstand the losses caused by a week of suspended operations and filed for bankruptcy for the second time since 2004. The liquidation of Hostess will mean the loss of 18,500 jobs.
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Following the decision, Chief Executive Gregory Rayburn said in a statement, "We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike." The company said it has incurred between $7.5 million to $9.5 million in losses beginning November 9 to date due to the strike and the lost in sales and the rise in costs.
According to union president Frank Hurt, the company's crisis was "nearly a decade of financial and operation mismanagement" in the making.
Even though the Hostess Brand is lost, it's a good time to look back at what made the company one of the most well known household brands in the world-- the Twinkie.
Here are 5 interesting facts about the Twinkie you might not have known about:
5. Jimmy Dewar of Schiller Park, IL invented Twinkies on April 6, 1930 and was named after an advertisement he saw for "Twinkle Toe Shoes."
4. Twinkies initially featured a banana cream filling. However, banana shortages during WWII caused the Twinkie recipe to change to vanilla cream instead. Dewar discovered that the vanilla cream filling not only offered a longer shelf-life, it was also more popular in the grocery stores.
3. A pair of Twinkie cakes were sold for a mere NICKEL during the Great Depression!
2. Urban legend suggests Twinkies can be stored for decades and has become the poster child for nonperishable foods. However, Hostess recommends you to refrain from eating a Twinkie that's been out for more than 25 days.
1. Former President of the United States Bill Clinton put a pack of Twinkies into the Millennium Time Capsule in 1999. The capsule is scheduled to open in the year 2100. Hostess highly advises you to not eat that Twinkie.
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