Hostess, the brand that makes products like Twinkies and Wonder Bread, has asked for a bankruptcy court's permission to liquidate the business. If the company goes out of business, about 18,500 workers will lose their jobs. The company says that the decision to liquidate is due to a strike by its workers, however the union says that the company has made unreasonable demands for concessions from its workers. The company has previously filed for bankruptcy twice in the last decade.
See "Hostess, maker of Twinkies to go out of business; strike cited", Alana Semuels, Los Angeles Times, November 15, 2012