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Twinkie-maker Hostess goes under
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acing a crippling strike by bakers, Hostess Brands — the baker of Wonder Bread and snack aisle icons such as Twinkies and Ho Hos — announced Friday that it is asking a bankruptcy court for permission to shut down. The move would put the 5,000 members of the bakers' union, which is protesting a new contract, as well as more than 13,000 other employees out of work. Hostess wants to auction its assets to the highest bidder, however, which could keep its most popular products on grocery store shelves.

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