Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, has sought a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Hostess, which has about $2.5 billion in sales from a long list of snack cakes and breads, filed the request with the U.S.Bankruptcy Court in New York early Friday morning.
The Irving, Texas-based company said the liquidation would mean that most of its 18,500 employees would lose their jobs.
Hostess immediately suspended operations at all of its 33 plants across the United States as it moves to start liquidating assets, it said.
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