"This Week" powerhouse roundtable

Grocery shoppers are a lot less sweet this week, after Hostess Brands, Inc. - the makers of Wonder Bread, Ho Hos and the ever-iconic Twinkie - announced it's shutting its doors after failing to resolve a labor dispute with striking employees.

After nearly 82 years in business, Hostess management said the company will "promptly" move to liquidate its assets and lay off it's nearly 18,500-member workforce.

The news comes as a blow to sweet-toothed snackers nationwide - and on " This Week with George Stephanopoulos," our powerhouse roundtable couldn't resist a taste of the Twinkie debate.

"My impression is that management and labor reached an impasse," former House Speaker Newt Gingrich told ABC's Martha Raddatz. "The union preferred killing the company to accepting what they thought was a bad deal."

Rep. Xavier Becerra, D-Calif., disagreed.

"I see the comings of Twinkie-gate here," he said. "All these workers were doing what they were being told to do, and now they're being blamed for bankruptcy. Come on. Thais is not the kind of leadership you want to see in corporate America."

Becerra, a self-described "chocolate fiend" who was raised in Sacramento, said he used to pass Hostess's Sacramento company almost daily when he was younger.

PHOTOS: Iconic Hostess Products

Donna Brazile also added her favorite childhood Twinkie memories to the mix.

"I remember when it was 25 cents a pack," she said. "It was two for five cents. [Now] it's $1.69. I would like the original Twinkie back."

But even as some shoppers stock up on their last Hostess products, ABC News' George Will remains optimistic for the future of the company.

"I liked Hostess cupcakes, but don't despair," he said. "The brand has value. Someone will buy it."

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