Hostess brands has asked a court for permission to close its business and sell off its iconic brands.
Hostess will now sell its popular brands like Ding Dongs, Ho Ho's and Sno Balls, along with the closure of 565 distribution centers, 570 bakery outlet stores and roughly 5,550 delivery routes.
Bakery operations are suspended although the company's retail stores will remain open for a few days to sell current products.
Hostess says it will move immediately to lay off most of its 18-thousand person workforce.
This comes after a week-long strike by the bakers union, which was protesting pay and pension cuts.
The company posted this message on its Facebook page: "We are sorry to announce that Hostess Brands, Inc. has been forced to shut down all operations and sell all company assets due to the Bakers Union strike. For more information, go to www.hostessbrands.info. Thank you to our fans for all your loyalty and support over the years."