>> harris: iconic company that sold sugary snacks to generations of wide eyed kids today announced it's closing its doors for good. laying off thousands of americans in the process. hostess, the maker of twinkies and wonder bread suspended operations at all of its pantries making good on a threat to shut down if striking workers refused to go back to work. those employees protesting pay cuts that hostess imposed after it filed for bankruptcy protection in january. the ceo says the company could not survive an extended strike. hostess asking a bankruptcy judge for permission now to sell itself off in parts. and lay off more than 8,000 employees. the "fox business" network's rich edison has more. what are the bakers union and the hostess companies saying tonight? >> that it's the other side's fault. hostess says union workers paid benefits and work rules were too expensive and unsustainable. some of the company's union workers agreed to management's offer. its bakers union refused and hostess blame that had strike