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The company's demise came after years of management turmoil and turnover, with workers saying the company failed to invest its brands. Hostess filed for Chapter 11 bankruptcy protection for a second time in less than a decade in January 2012, citing costs associated with its unionized workforce. It had about 18,500 employees when it announced that it was shutting down after it was unable to reach a deal on a new contract with striking workers. The company has stressed in bankruptcy court that it would need to move quickly in the sales to capitalize on the outpouring of nostalgia prompted by its shuttering.
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