Unions and their Pensions force Twinkies maker to file bankruptcy

Although its products are, at best, mediocre, the unions and their pension deals put this dinosaur in it's deep trouble.

Twinkies maker files bankruptcy – USATODAY.com

1-11-12

NEW YORK (AP) – Hostess Brands, maker of Twinkies and Wonder Bread, is seeking bankruptcy protection, blaming its pension and medical benefits obligations, increased competition and tough economic conditions....

In its filing with the U.S. Bankruptcy Court for theSouthern District of New York, Hostess disclosed that its biggest unsecured creditor is the Bakery & Confectionary Union & Industry International Pension Fund, which it owes approximately $944.2 million.

Its second-largest unsecured creditor, Central States, Southeast and Southwest Areas Pension Plan, is owed far less, about $11.8 million.