Considering how valuable a brand name like Twinkies is, not to mention most of Hostess' other products, I wouldn't be very surprised to see other companies buying the rights to them.
But lol people don't think. There are currently boxes of Twinkies on sale on ebay for like 30 bucks. Ridiculous. There are plenty of alternate brands, or hell, you can probably make them yourself pretty easily.
At the end of the day, you can't hurt the leaders of Hostess. If they go out of business, they can drown their sorrows at their mansions for a while before moving to another company for even more pay. The people who decided they would rather be on unemployment than work for someone who wants to lower their wages, while it is commendable that they stood up for their principles (harming the 80% of the company that did not agree with them in the process), they are now out on the street in a terrible job market where their odds of finding something better are slim to none.