Hostess Twinkies. (credit: Justin Sullivan/Getty Images)

IRVING (CBSDFW.COM) – There are reports out Tuesday that, for the second time in less than a decade, Irving-based Hostess Brands Inc. is preparing to file for bankruptcy protection.

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Technically the company would be entering a Chapter 22 bankruptcy, since Hostess had already filed for Chapter 11 bankruptcy protection in 2004 – that protection ended in February 2009.

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According to the Wall Street Journal, the maker of Wonder Bread and Twinkies is dealing with high labor expenses and rising ingredient costs and is more than $860 million in debt.

Some are speculating a shift toward healthier eating and whole grain baking could have contributed to the second bankruptcy filing. According to a Chicago-based market-research firm, sales of Hostess Twinkies have declined with nearly 36 million packages sold in 2011. That’s a drop of almost 2-percent from 2010.

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Hostess Brands operates in 49 states and employs some 19,000 workers. According to the company’s website, their annual sales are about $2 billion.