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Originally posted on Financial Post | Business:
For decades, people have enjoyed testing the longevity of the Twinkie. In 1995, Rice University students experimented with the spongy golden log by microwaving it, dunking it in water and throwing it out of a sixth floor window. It lost some cream but survived the fall.
The longevity of its maker Hostess Brands Inc. has been also been tested, with a less favourable outcome — the iconic 82-year-old company announced Friday that it will close and fire most of its 18,500 employees.
Hostess, which makes snack cakes and loaves of Wonder Bread, is seeking a U.S. court’s permission to liquidate after failing to get wage and benefit cuts from thousands of its striking workers.
A hearing on the matter is set for Monday. The Irving…
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