If you walk into any grocery store in the country, you'll find frantic costumers stripping the shelves of all hostess products. Five days ago
Hostess announced that they would be filing for bankruptcy after they laid off 18,500 workers and closed 33 bakeries nationwide. In response to bakers union strikes from employees across the country, Hostess had no choice but to file for bankruptcy as they had no options to solve the strike. CEO Gregory Rayburn said, "We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike".
The closing of this company will take a toll on the country as thousands of jobs are lost and according to CNN Money, "Hostess had annual sales of about $2.5 billion".
As products are limited across the country, many people have started to sell Hostess products on Ebay for up to $3000, which I think is crazy. I was never a Hostess fan, so I will not be upset with their departure. What do you think? Are you sad Hostess is going out of business?
