WSJ: Hostess Preparing to File for Chapter 11 Again
The Wall Street Journal has reported that Hostess Brands is again preparing to file for Chapter 11 bankruptcy and it could be as soon as this week. This would be the second time the company filed for bankruptcy in the last couple years. It emerged from bankruptcy protection in February 2009 and has struggled since then.
The company, based in Texas, has over $860 million in debt and employs about 19,000 people, the article said. Rising costs for ingredients including sugar, flour, as well as high labor costs, are contributing the company