Very possibly. Background here and here: the short version is that Hostess Foods is in horrible financial shape; it’s in the process of trying to stave off bankruptcy via drastically renegotiated emergency union contracts with the Teamsters and bakers’ unions; the Teamsters took a look at the books, blanched, swallowed hard, and took the deal; the bakers’ unions did not, and decided to go on strike; and Hostess basically told the strikers that if they didn’t stop striking by end of business today that the company would just go ahead and shut down. The end of business came and went; and now we’re going to see whether Hostess will go through with their promise/threat.
And how serious is this threat? This serious:
The Teamsters meanwhile are urging the smaller union to hold a secret ballot on whether to continue striking. Citing its financial experts who had access to the company’s books, the Teamsters say that Hostess’ warning of liquidation is “not an empty threat or a negotiating tactic” but a certain outcome if workers continue striking.