Hostess Brands files for bankruptcy protection

6:41 PM, Jan 11, 2012   |    comments
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BIDDEFORD, Maine (AP/NEWS CENTER) -- The maker of Twinkies and Wonder Bread is seeking bankruptcy protection.

But Hostess Brands says don't worry about those popular products, as well as Drake's Ding Dongs and Ho Hos, because they'll still be available.

The company is blaming the move on its pension and medical benefits obligations, increased competition and tough economic conditions.

The Chapter 11 filing comes just two years after a predecessor company emerged from bankruptcy proceedings. That company, Interstate Bakeries, filed for bankruptcy protection in 2004. It emerged in February 2009.

But Hostess says that its previous efforts to produce incremental change, including the prior Chapter 11 case, were insufficient. Hostess has about 19,000 employees and operates in 49 states...including a bakery in Biddeford.

The Associated Press contributed to this story.