date:Jan 15, 2013
years of management turmoil and turnover, with workers saying the company failed to invest its brands. Hostess filed for its second Chapter 11 bankruptcy in less than a decade this January, citing costs associated with its unionized workforce. It had about 18,500 employees when it announced that it was shutting down after it was unable to reach a deal on a new contract with striking workers.
Hostess CEO Gregory Rayburn, who was hired last year to help orchestrate a turnaround, said in a stateme