Last updated on August 16th, 2012 at 10:17 am
Hostess Brands Inc. is getting ready to file for Chapter 11 bankruptcy, its second such filing, sources told The Wall Street Journal.
Privately held Hostess has about $860 million in debt and has been squeezed by high labor costs and rising ingredient prices, the sources said. The Irving, Texas-based company, previously called Interstate Bakeries Corp., filed for bankruptcy in 2004 and emerged in February 2009.
Hostess makes Twinkies and Wonder Bread and operates a Wonder Bread bakery near downtown Memphis, the Memphis Business Journal reports.