Hostess may file for Chapter 11 again: report

[unlimitedpudding]

what the hell, newsbot! how is this not posted yet? Wonder Bread makes the best TOAST! Not to mention twinkies. what would we do without twinkies? 2012 really is the end of the world if Hostess goes out of business.

(Reuters) - Hostess Brands Inc, a wholesale baker, is again preparing to file for Chapter 11 bankruptcy protection this week, The Wall Street Journal reported, citing people familiar with the matter.

This would be second court restructuring for Ripplewood Holdings-owned Hostess, which filed for bankruptcy almost two years ago and had emerged from it last September.

Irving, Texas-based Hostess has arranged for about $75 million in debtor-in-possession financing to keep it afloat during bankruptcy proceedings, the sources told the paper.

Once in bankruptcy court, the maker of Twinkies and Wonder Bread will try to reduce debt and renegotiate labor contracts, the newspaper said.

The company continues to face a cash crunch despite Ripplewood Holdings investing $40 million, while Monarch Alternative Capital, Silver Point Capital and others loaned the company $20 million late last year, the paper said.

Hostess, which carries over $860 million in debt, declined to comment when contacted by Reuters.

[Ran]

No one cares. Probably because none of the characters on this site have a gluttony quality.

[anarky]

Is Galactus or Unicron not among the legion of fictitiousanal characters here?

[vynsane]

hrm... i guess it isn't as profitable as i initially thought it was to make food simulation products out of cardboard and high-fructose corn syrup.

shouldn't it be illegal to file for bankruptcy twice in as many years? like, okay, you made some wrong decisions, the economy tanked, you're in trouble, we'll help you out - but wait, you're already in trouble again? no, i think you either have to close your doors or, like, sell some of your old jewelry or something - no, you don't get to do this again just yet.

there's got to be a clause in bankruptcy law somewhere that prevents someone from skating away scott-free from debt a possible five times in a decade.

[anarky]

There is.

For individuals.

[Negative Boy]

It's fairly obvious why this company is in the toilet.
They make Ho-Hos and Twinkies.

And no self respecting American is going to buy confections named after fat crack addicted prostitutes and underage gay porn fluffers.

Except you deviant twats that go to Vegas for tranny hooker Bjs.