The famous Hostess Brands Inc., maker of Twinkies and other delicious desserts, has filed for Chapter 11 bankruptcy.

On Wednesday, the company filed for bankruptcy citing cost restructuring as its main reason.  Court papers released stated, "Whether the debtors can achieve long-term viability depends directly and substantially on the debtors’ ability to achieve dramatic change to their labor agreements, with a corresponding material reduction in their cost structure and legacy pension and medical obligations, and a restructuring of their capital structure.” 

Hostess's current lenders, Silver Light LP, loaned $75 million to keep it in operation while the restructuring takes place.

If you are considering bankruptcy, contact Maryland chapter 11 bankruptcy attorneys of Chaifetz & Coyle, P.C. by calling 443-546-4608.