Out Of Business | featured news

Hostess Brands says it is going out of business, closing plants that make Twinkies and Wonder Bread and laying off all of its 18,500 workers. The Irving, Texas, company says a nationwide worker strike crippled its ability to make and deliver its products at several locations.

Talks to save a few dozen Borders Group stores collapsed, increasing the odds those 30 outlets will meet their demise along with the rest of the chain of nearly 400 bookstores.

Borders Group is beginning liquidation sales at all of its 399 stores A liquidation company that is part of the process said late Thursday that the sales will be held starting Friday...

What happens when a pioneer like Borders goes out of business? Depends on who you ask. A day after the bankrupt Ann Arbor, Mich.-based chain said it would seek court approval to sell off its assets and shutter its remaining 399 stores, everyone from publishers to consumers is assessing what it would mean if the company that started the big-box bookseller concept vanished. The move could have a wide ranging - and different -- impact on everyone from authors to consumers to competitors at a time when the industry is desperately trying to adapt to a new generation of readers who'd rather browse on an electronic book or tablet computer than turn the page of a paperback.

The Miramax offices in New York and Los Angeles will close their doors today.

Video games developer 3D Realms goes bust due to lack of funds after 12 years working on the game Duke Nukem Forever.

Portfolio, a business magazine that Condé Nast began publishing in April 2007 with much fanfare, will cease publication immediately.