Borden Dairy filed for bankruptcy on Monday, making it the 2nd largest milk seller in nearly 2 months to restructure amid rising raw milk costs and lackluster consumer demand
Borden produces nearly 500 million gallons of milk each year for groceries, schools and others. It: Borden Dairy, one of the oldest milk processors in the U.S., filed for bankruptcy on Monday, making it the second large milk seller in nearly two months to restructure amid rising raw milk costs and lackluster consumer demand.
Borden Dairy said in a statement that it filed for Chapter 11 bankruptcy protection because its debt levels are unsustainable and the company has been impacted by the “rising cost of raw milk and market challenges facing the dairy industry.”The Dallas-based company has 3,300 employees.bankruptcy in November over similar trends in the dairy industry.
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