Hostess Brands liquidation (2012)
Hostess, maker of Twinkies and Wonder Bread, filed for bankruptcy and liquidated, shuttering 33 plants and laying off about 18,500 workers nationwide.
The brands were auctioned to new owners and production resumed within months using lower-cost labor.
Iconic American food brands survived under private equity, but thousands of workers lost jobs and communities lost industrial anchors.
Like Blue Diamond, Hostess was a century-old food brand. But Hostess went bankrupt; Blue Diamond is a solvent cooperative restructuring, which changes the options available to workers and the company.
