Borden Dairy Company Files for Bankruptcy.
The company is the second major milk producer to file for bankruptcy in the past two months.
Borden filed due to its inability to afford its pension obligation and debt load.
Despite our numerous achievements during the past 18 months, the company continues to be impacted by the rising cost of raw milk and market challenges facing the dairy industry.
, Borden Dairy Co.
CEO Tony Sarsam.
The milk industry as a whole has taken a hit with a 6% drop in overall milk consumption since 2015.
America’s largest milk producer, Dean Foods, filed for bankruptcy last November