Hostess closing 3 bakeries following strike

Associated Press Modified: November 12, 2012 at 4:31 pm •  Published: November 12, 2012
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Hostess has argued that workers must make concessions as it tries to improve its financial position. The privately-held food maker filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade. Hostess cited increasing pension and medical costs for employees as one of the drivers behind its latest filing.

The company, founded in 1930, is fighting battles beyond labor costs, however. Competition is increasing in the snack space and Americans are increasingly conscious about healthy eating.