1/12/2012 12:30:00 PM
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Hostess Brands, the maker of Twinkies snack cakes and Wonder bread, filed for bankruptcy Wednesday, less than three years after completing an earlier restructuring.
Company officials cited a weak economy and costs associated with legacy pension and medical-benefit obligations as the reason for the Chapter 11 filing in New York, Bloomberg reported.
Hostess Brands ranks No. 24 on Transport Topicsâ€™ Top 100 Private Carriers list with 970 tractors, more than 6,700 trucks and vans and 1,900 trailers.
The Teamsters union, which represents more than 7,500 of the companyâ€™s delivery drivers, said it will continue talks over how to restructure the business.
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