Twinkies, the tasty cream-filled golden spongecakes are likely to survive, even if the company that has made them for more than 80 years is sold in bankruptcy court. Hostess Brands Inc., baker of Twinkies as well as Wonder Bread, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom Monday to start the process of selling off its assets. The company, weighed down by debt, management turmoil, rising labor costs and the changing tastes of U.S. citizens, decided on Friday that it no longer could survive hrough a conventional Chapter 11 bankruptcy restructuring. Instead, Hostess seeks the court's permission to sell its assets and go out of business.
Photo 1 of 10
News in Photos: The 10 topics you should be ready to talk about today.
Connect to see what your friends are sharing in this Loop!