NEWSLETTER
Now, in 2025, it seems difficult to imagine that a world could have existed without Twinkie the child, the fruit cake, Captain Cupcake and, of course, King Dong the Ding Dong.
That reality, however, was almost approved with the second bankruptcy of the Company, a presentation of November 2012. The company even shared an order of the United States Banking Court for the Southern District of New York, approving its provisional emergency motion for the orderly hoarding of its business and the sale of its assets.
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It was a slow and painful process that could have ended in a disaster for Twinkies and other iconic treats.
“The wind required an inflated cost structure that put the company in a deep competitive disadvantage. The largest component of the company's costs was its collective bargaining agreements that covered 15,000 of 18,500 employees,” he shared at that time.
It turns out that snack companies use real workers and not OOMPA Loompas or magical elves to make their products, and that was a drag of the profits.
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At the end of the day, however, the host's workforce agreed to concessions, and the famous brands survived. Thousands of workers maintained their work, and millions of children had to continue greeting Captain Cupcake, marveling at Twinkie the Kid's skills and surprised by the tricks of the fruit cake the magician.
Another company of snacks, although less famous, has also survived its bankruptcy presentation of Chapter 11.
Image and colon source; Shuttersock
Hearthside went through some real problems
Some companies operate behind the scene, making their names less relevant. Hearthside, owned by H-Food LLC, made wonderful sandwiches that loved consumers, but did it for other brands.
The company requested the bankruptcy protection of Chapter 11 in November, showing almost $ 2 billion in debts that expected to eliminate or restructure. Some of their problems occurred after an investigation into the company that uses child labor in its factories.
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“Hearthside Said That It Never Knowingly Employed Underage Labor in Its Facilities, and That It Had Cut Ties With Third-Park Staffing AGENCIES AND STREGTHEED UNSAFE CONDIONES AT HEARTHSIDE'S FACTORIES TO MAKE CHEWY GRANOLA BARS AND PACK BAGS OF LUCKY CHARMS AND CHEOTES, “ACCORDING TO A A Reuters history.
However, the company managed to work with its creditors and lenders and emerge from the bankruptcy of Chapter 11 with a much healthier balance.
Hearthside gets a new name and a new money
As it arose from the bankruptcy of Chapter 11, Hearthside changed his name to Maker's pride. Then, in reality, Hearthside had a child labor scandal, while Maker's pride has a new balance in that regard.
A quick Google search shows many stories about Maker's pride as the new name for Hearthside, but nothing in the search pages refers to the scandal. However, the company is not a brand like the host. Instead, it manufactures for other companies.
“Maker's Pride is the main manufacturer of contracts and convenience food producer, including baked foods, refrigerated and frozen, sweet and salty snacks and nutritional bars. The company serves as a supplier of food packaging services for many of the world's main brands and is the largest private bakery in the industry, shared on its website.
After bankruptcy, the company will have its headquarters in Downers Grove, Illinois. Maker's pride production network includes 27 facilities.
The newly named company leaves chapter 11 with a much stronger balance.
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“Through its financial restructuring, the company eliminated approximately $ 2 billion of financed debt, substantially reducing interest expenses and positioning the business for significant long -term growth. In addition, Maker's pride is emerging with approximately $ 600 million liquidity, including $ 200 million new money through a value of equity capital and the sale of rights of $ 190 of a new capital of a new capital of a new capital of a new loan capital with Test support.
It is now a majority property for a group of its existing lenders, including the funds administered by Apollo and Oaktree Capital Management, LP
