Hostess' demise ends a golden era

11/16/2012 | CNNMoney

A labor strike that started Nov. 9 was the death knell for Hostess Brands, maker of Twinkies and Wonder Bread. The 82-year-old company plans to close factories, lay off 18,500 workers and liquidate. "We deeply regret the necessity of today's decision, but we don't have the financial resources to weather an extended nationwide strike," CEO Gregory Rayburn said.

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