Bad news for the company that makes some of America's favorite snack cakes.

FOX Business Network's Robert Gray reports:

(Twinkie commercial) Twinkies may have a long shelf life, but the company behind them may not.  Hostess Brands has filed for bankruptcy protection just a few years after emerging from chapter 11.  The company says its cost structure is not competitive.  It blames legacy pension and medical benefit obligations as well as what it calls restrictive work rules.  The 82 year-old Texas company came out of bankruptcy in 2009.  It says those restructuring efforts were not sufficient.  Hostess has lined up 75 million bucks in financing to keep making sweets during the process.

In New York, Robert Gray, FOX News Radio.

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