1. Everything Must Go

    Hostess Going Out of Business

    CHICAGO, IL - NOVEMBER 15:  Hostess Brands products are shown on November 15, 2012 in Chicago, Illinois. Hostess Brands Inc. has warned striking workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that it will move to liquidate the company if plant operations don’t return to normal levels by this afternoon.  (Photo by Scott Olson/Getty Images)

    Scott Olson / Getty Images

    Get those Twinkies while you can, as they might soon be a thing of the past. Hostess announced on Friday it is going out of business, claiming that a union strike ruined its operations. Hostess has filed a motion with the U.S. Bankruptcy Court asking to close and sell its assets. This may mean the end of Twinkies, Ding Dongs, and Wonder Bread, although the company said it may sell its recipes to the highest bidder. Bakery operations have ended at all company plants, and the company will lay off all 18,500 employees. Hostess Brands will continue to be sold for the next several days until all of the already-baked products are sold.

    Read it at CNN