Hostess: Twinkies back on shelves July 15
Originally published: June 23, 2013 4:40 PM
Updated: June 23, 2013 10:19 PM
By
Photo credit: AP | Twinkies will be back on shelves by July 15, 2013, after its predecessor company went bankrupt after an acrimonious fight with unions last year.
Hostess is betting on a sweet comeback for Twinkies when they return to shelves next month.
The company that went bankrupt after an acrimonious fight with its unionized workers last year is back up and running under new owners and a leaner structure. It says it plans to have Twinkies and other snack cakes back on shelves starting July 15.
Based on the outpouring of nostalgia sparked by its demise, Hostess is expecting a blockbuster return next month for Twinkies and other sugary treats, such as CupCakes and Donettes. The company says the cakes will taste the same but that boxes will now bear the tag line “The Sweetest Comeback In The History Of Ever.”
Hostess Brands Inc. filed for Chapter 11 bankruptcy reorganization in early 2012. Workers blamed the troubles on years of mismanagement, and a failure of executives to invest in brands. The company said it was weighed down by higher pension and medical costs than its rivals, whose employees weren’t unionized.
In bankruptcy, CEO Greg Rayburn failed to reach a contract agreement with the company’s second-largest union. In November, he blamed striking workers for crippling the company’s production and announced that Hostess would liquidate. Metropoulos Co. teamed up with Apollo Global Management to buy a variety of Hostess snacks, including Twinkies. About 15,000 unionized workers lost their jobs.