Hostess To Sell Off Its Brands After 82 Years

Hostess, the iconic brand behind Twinkies, Wonder Bread and Ho Hos, says it is going out of business. The company plans to shut down 33 plants and 565 distribution centers as it liquidates. More than 18,000 workers would lose their jobs. Already in bankruptcy, Hostess said a nationwide strike "crippled" the company's operations. The union representing bakery workers blames mismanagement for the company's demise.