Twinkies maker Hostess Brands Inc. filed for Chapter 11 bankruptcy. (Creative Commons/Flickr)

Like many corporations facing financial challenges in the dicey economy, Hostess said it struggled with benefits and pension costs. Hostess listed assets between $500 million and $1 billion in its bankruptcy filing with the U.S. Bankruptcy Court for the Southern District of New York, and over $1 billion in liabilities. 

This is the second time the maker of the popular whimsical treats has filed for bankruptcy. In 2009, Interstate Bakeries was taken over by Ripplewood Holdings and renamed Hostess Brands, as the company had filed for bankruptcy.  This time Hostess will be handed over to Silver Point Capital.

Despite fears of Hostess-less store shelves during bankruptcy, a $75 million finance commitment from a group of lenders will allow production to continue--and Twinkie fanatics and Ding-Dong lovers alike can rest assured they will still be able to indulge in their favorite treats.

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