It can be a hard choice to file for bankruptcy, especially when it is the second time around. That is the case for the well-known Hostess company. Known for their Twinkies and Wonder Bread in Florida and all across the country, the company has been struggling for several years and has tried different avenues to get itself back up on its feet.

According to a news report, the company first filed for bankruptcy in 2004 with the hopes of gaining stability and getting back on track. But recently, the company announced it is filing for Chapter 11 bankruptcy protection for the second time. The ultra-sweet company has had its fair share of struggles throughout the years. According to a news report, the "skyrocketing" costs of products such as flour and sugar are to blame for the company's misfortunes. Other key baking ingredients make up a part of the struggle too, as well as growing debt.

Another issue the company has had to deal with is the influx of initiatives directed at healthier eating. The company has been labeled as "too-sweet" and products, such as the popular Twinkies, have come under scrutiny about their lack of natural ingredients. Although the company has tried to overcome this image by producing a line of natural whole grain foods, it has not been enough to pull them out of the deep end.

A news report says the company will continue to function as it undergoes bankruptcy and will likely try to renegotiate union contracts and find other ways to curb debt.

Source: NY Daily News, "Tough times for Twinkies: Hostess files for bankruptcy," Lindsay Goldwert, Jan. 10, 2012