Latest news with #HoHos
Miami Herald
7 days ago
- Business
- Miami Herald
Popular regional food brand files for Chapter 11 bankruptcy
Consumers face the risk of losing some of their favorite products whenever a food manufacturer files for bankruptcy. Commercial bakeries produce some of the most beloved products, and Hostess Brands is one of the most popular bakery brands, offering Wonder Bread, Twinkies, Ho Hos, Ding Dongs, and their fruit pies for decades. Don't miss the move: Subscribe to TheStreet's free daily newsletter Hostess broke a lot of hearts after it filed for bankruptcy in January 2012, shut down operations, and liquidated its products. Luckily for its fans, J.M. Smucker in September 2012 purchased the company for about $5.6 billion and restarted the business. Related: Another popular pizza dining chain files Chapter 11 bankruptcy Another food manufacturer, Hearthside Food Solutions, which made various snack and food products for distributors such as Mondelez Global, Kraft Heinz Foods, and Pepsico, on Nov. 22, 2024, filed for Chapter 11 bankruptcy protection with a restructuring support agreement to hand 100% ownership of the company to its first-lien lenders. Hearthside, known as H-Food Holdings, restructured its debt, reorganized, and emerged from bankruptcy on March 31, 2025, as a new company, Maker's Pride LLC. Through the restructuring process, H-Food eliminated about $2 billion in funded debt. The company emerged with about $600 million in liquidity, including $200 million in new money through an equity rights offering and another $190 million of additional capital from a new asset-backed loan facility, according to a Maker's Pride statement at the time. "The swift completion of our financial restructuring process marks a pivotal moment for our company and is a testament to the dedication of our valued team members and committed support of our customers and financial partners," Darlene Nicosia, chief executive officer of Maker's Pride, said in a statement. The Downers Grove, Ill., company manufactures and produces convenience foods, including baked, refrigerated, and frozen foods, sweet and salty snacks, and nutrition bars, as a full-service provider of food packaging services for many of the world's premier brands through a network of 27 facilities and is the largest private bakery in the industry. And now, another popular commercial bakery has declared bankruptcy, as the parent company of Phoenix-based artisan bakery Noble Bread has filed a Chapter 11 petition to reorganize its business. The bakery and restaurant owner's parent Noble Goodness LLC and three affiliates filed their Subchapter V petition in the U.S. Bankruptcy Court for the District of Arizona on May 29, listing $1 million to $10 million in assets and $1 million to $10 million in liabilities. Related: Major logistics and trucking company files Chapter 11 bankruptcy The debtor did not indicate a reason for filing for bankruptcy in its petition. Nobel Bread operates a bakery facility that produces 30 different types of bread, as well as a modern wood-fired deli restaurant, Noble Eats, located in the Biltmore District in Phoenix. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy The bakery says that it uses old-world techniques, "only using organic GMO-free flours, water, sea salt, and organic levain starter, which is a culture of wild yeasts used slowly to leaven the bread," according to Noble Bread's website. The company claims that it takes 36 hours to make one loaf of bread. "Utilizing whole grains, and ancient grains makes the bread far more complex and biologically active than just plain white bread," Noble Breads said on its website. The artisan bakery's products are available at Noble Eats, 11 AJ's Fine Foods gourmet markets throughout Arizona, and at a dozen farmers' markets throughout the Grand Canyon State. Related: Another major internet company files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Daily Mail
20-05-2025
- Entertainment
- Daily Mail
Revamped Playboy Mansion finally finished after five years of renovations under new billionaire owner
Renovations on the infamous Playboy Mansion are finally complete after five years. Aerial images show the stunning property looking vastly different than before with a brand new cream and aqua blue color scheme. From some angles, the one debaucherous mansion now resembles a picturesque Disney castle. The surrounding area boasts an impressive guest house, a cobalt blue tennis court, and perfectly manicured lawns and gardens. The rear terrace deck appears to have been extended to allow more space for outdoor entertaining. And to help guests unwind, there's a new 42 by 23-foot solarium. Underneath the solarium, a new luxury state-of-the-art spa-jacuzzi is believed to be finished. The spa also includes a 'cold plunge,' favored by celebrities such as Gwyneth Paltrow, Lady Gaga and Madonna. The late Hugh Hefner's legendary home, which served as the backdrop to his Playboy magazine, was sold in January 2016 to Greek-American business mogul Daren Metropoulos for $100million. Daren, 42, is the son of billionaire businessman Dean Metropoulos, 79. Daren boasts a packed business portfolio, as he headed companies such as Hostess Brand, which produces snacks like Twinkies and HoHos, and Pabst Brewing Company – both at some point owned by his father. Dean is a fan of Hefner's fantasy home, as he was photographed partying it up at the 29-room Holmby Hills property in 2012 alongside rapper Snoop Dogg and an entourage of bunnies. He entrusted the makeover to architect Richard Landry, who has renovated multiple star's houses such as Tom Brady, Kylie Jenner, Rod Stewart, Mark Wahlberg and Sylvester Stallone. Dean has spent the last 18 years buying up iconic properties, with estimating that the mogul has splashed out around $326million so far. Outside of the Playboy Mansion, his purchases include $148million on a Mediterranean Revival-style home in Palm Beach, Florida. 'My general approach is very measured and tactical and I am particularly interested in hidden jewel properties that rarely come to market,' he previously told The Wall Street journal. In addition to owning the $100million Playboy Mansion, Dean also owns a 'miniature' mansion next door worth around $60million. He has hinted in the past that he plans to combine the two estates. Building permits filed with the Los Angeles Department of Building and Safety at the start of renovations five years ago, showed his intention of remodeling the kitchen, family room bathrooms and powder room in the main house. When Dean originally bought the mansion in 2016, he allowed Hefner to live out his last days at his beloved mansion. He died the following year at age 91 from sepsis he had developed after he contracted E. coli. The Playboy Mansion is emblematic of celebrity culture with some of the biggest stars scrambling to enjoy Hefner's lingerie-only dress code for the female guests who cavorted in the caved grotto. Elvis Presley reportedly slept with eight Playmates at once at the home, while John Lennon burned a Matisse original with a cigarette. Donald Trump even filmed an episode of The Apprentice at the mansion where contestants got to meet Hefner and his girlfriends. It also has a dark side, with allegations against disgraced actor Bill Cosby purported to take place during these debauched parties. Judy Huth claimed Cosby assaulted her when she was 15 at Hugh Hefner's home. Chloe Goins claimed she was assaulted by Crosby at the mansion, but criminal charges in the case were ruled out. It was also dirty. Multiple former Playboy bunnies spoke out about the dilapidated building and floors being strewn with dog feces and urine. In 2011, health officials confirmed that the bacteria that causes Legionnaires' disease was found in a whirlpool spa at the Playboy Mansion where more than 100 people fell ill. The Los Angeles County Health Department presented its findings at an annual conference at the Centers for Disease Control in Atlanta. The legionella bacteria also cause a milder illness called Pontiac fever. Symptoms, which include fever and headache, are the same as those suffered by the Playboy Mansion partygoers. Building permits, accessed by in 2023, revealed workmen repaired 'termite and dry-rot damage' from the original wooden framing. The Playboy mansion sits on five acres adjacent to the Los Angeles Country Club – on Charing Cross Road in the exclusive Holmby Hills neighborhood just off the famous Sunset Boulevard. The house was designed by Arthur Kelly for Arthur Letts Jr - the son of Arthur Letts who founded The Broadway, a now-defunct department store – and was completed in 1927. It was purchased by Hefner in 1971 for $1million, becoming the second Playboy Mansion house. The first was a 54-room classical brick and limestone mansion in Chicago's Gold Coast district.
Forbes
14-04-2025
- Business
- Forbes
Hostess Twinkies' Munchie Mobile: Smucker Targets Stoners For 4/20
Imagine the iconic kid's brand Hostess Twinkies cruising in a "Munchie Mobile" to cannabis dispensaries. This isn't The Onion. This isn't a Saturday Night Live sketch. It's J.M. Smucker's new marketing tactic for the 106-year-old Hostess brand they bought in 2023. As Katie Deighton describes in the Wall Street Journal, Twinkie the Kid is "taking a siesta." In his place is a campaign targeting cannabis fans celebrating 4/20, the unofficial national holiday for cannabis culture. The Munchie Mobile visits East Coast dispensaries at 4:20 p.m. daily. It ends with a six-hour event in Brooklyn on April 20th. This initiative marks a sharp turn for a brand known for childhood nostalgia. Smucker admits Hostess had lost relevance. I find this embrace of cannabis culture fascinating after decades of family-friendly marketing - it seems unprecedented for a brand like Twinkies. A pun-filled press release notes the brand is 'taking the high road' and includes the promise, 'We Twinkie swear it will be lit.' Smucker paid $4.6 billion for Hostess at a time when the pandemic was boosting sales of snack items. Now, snack sales are down industry-wide. Weight-loss drugs threaten to change eating habits. With their sweet snack sales dropping by 7%, Smucker needs to find new customers fast. Smucker is trying multiple approaches. They've redesigned packaging. They created a "Speakie Snackie" promotion. People say phrases like "Bet you dollars to Donettes I have the munchies" for free snacks. Brands need emotional connections with consumers. Smucker gets this. They tap into Hostess's bold heritage with slightly irreverent marketing. They're also launching mini versions of popular items. They have already brought back Suzy Q's cakes and my own guilty pleasure, HoHos. This strategy uses sound psychology. Associating Twinkies with post-cannabis snacking creates strong purchase triggers. When you get "the munchies," you might remember that Twinkie ad. Free samples leverage the principle of "reciprocity." I've seen this work countless times. When someone gives us something free, we feel obligated to return the favor. And, at the same time the brand is handing out the freebies, they are showing the recipients that they are part of the same identity group. That invokes Robert Cialdini's 'liking' principle, if not the stronger 'unity.' Of course, only a handful of customers will be able to visit the Munchie Mobile in person during it's brief East Coast run. The brand is counting on broader exposure driven by its unexpected and unconventional pivot. Many marketers fear trying things that might alienate traditional customers, but the old fans of Hostess Twinkies were already leaving. Sometimes bold moves are needed to stay relevant.
