Do brands survive bankruptcy?

NEW YORK (CNNMoney) — Neither bankruptcy nor a liquidation can kill iconic brands.

Before the ink was even dry on Hostess Brands’ bankruptcy filing Wednesday morning, interested buyers were already digging into the potential value of the Hostess name and how Twinkie, Ding Dong or Wonder Bread could be repurposed into other consumer products.

For now, Hostess will continue to churn out Twinkies, but many in the bankruptcy world are questioning whether the maker of snack foods can survive.

This is Hostess Brands’ second trip in bankruptcy court. It emerged in 2009 after a four and a half year restructuring.

Should Hostess Brands choose to liquidate rather than reorganize, the brand names – Twinkies, Ding Dongs and Wonder Bread – will very likely live on.