Featured StoryThe bankruptcy of Hostess Brands is just the latest example of once-famous U.S. companies that have gone out of business.
History's dustbin is full of familiar brands that are now extinct, including Studebaker, Woolworth's and Braniff....
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Hostess Brands Shutdown Halted as Company Asks for Bonuses
Hostess Brands Shutdown Highlights Looming Pension Crisis
Hostess Brands, the closely held maker of Twinkies, Hostess Cupcakes, Ho-Hos, Drake's Cakes and Wonder Bread, has announced that it will shut down all operations beginning today and liquidate the company's assets as soon as it receives permission from the bankruptcy court.
Hostess, which is in bankruptcy for the second time since 2004 and is now owned by a group of financial firms led by two hedge funds, had issued an ultimatum to striking bakers: Call off the strike by 5:00 p.m. Thursday or the company will be shut down....