When Hostess filed for bankruptcy in April 2012, it hardly seemed believable that we would no longer be able to go to the 24-hour drugstore to grab a pack of Twinkies or Ding Dongs. After all, they've been around since 1930! But after a union strike left Hostess unable to continue operations, there was more than just the fate of the little yellow cream-filled cake at risk.
Investment firms Metropoulos & Co. and Apollo Global purchased the rights to produce Hostess products in March of this year for a cool $410 million, so it seems that the tasty cakes may have found their salvation.
"Safely, you should be able to buy Twinkies by the end of July," Hostess chief executive officer Michael Cramer said at an event in Columbus, Georgia, to announce the reopening of the plant in the area.
Now, the question is whether the restructured company will use union workers to produce the tasty cakes in the future, which directly addresses the reason Hostess bankrupted in the first place.
Columbus Mayor Teresa Tomlinson said that the company will hire 200 workers to start this summer before hiring another 100 at a later date. She said it doesn't matter whether the jobs are union-free or not.
"I think we're very happy to have the jobs back; 300 jobs is better than zero jobs," Tomlinson said.
While the announcement of new jobs is great news for all involved, we can take solace in the fact that our next Ho-Ho fix is only a few months away.