Hostess Brands is going out of business, closing plants that make Twinkies and Wonder Bread and laying off 18,500 workers.

The Irving, Texas, company says a nationwide strike crippled its ability to make and deliver its products at several locations.

 

Hostess had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn’t return to normal levels by Thursday evening.

The privately held company filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade.

The company has been the victim of changing consumer tastes, high commodity costs and strained labor relations. A work stoppage by the Bakery, Confectionery, Tobacco Workers and Grain Millers Union affected about two-thirds of Hostess’s 36 plants. The new contract called for wage and benefit cuts of up to 32%.

Bakery operations have been suspended at all plants. Company Chief Executive Officer Gregory Rayburn expressed regret over today’s decision but said Hostess doesn’t have the financial resources to weather an extended nationwide strike.