{"id":24395,"date":"2020-01-10T10:45:31","date_gmt":"2020-01-10T10:45:31","guid":{"rendered":"https:\/\/www.ceo-na.com\/?p=24395"},"modified":"2020-01-10T16:46:26","modified_gmt":"2020-01-10T16:46:26","slug":"borden-dairy","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/news\/borden-dairy\/","title":{"rendered":""},"content":{"rendered":"

Borden Dairy Co.\u00a0files for bankruptcy citing unbearable debt.<\/p>\n

<\/p>\n

Privately held U.S. dairy processor and distributor, Borden Dairy Co., has filed for\u00a0for bankruptcy, becoming the second major U.S. milk seller to do so in two months, according to Bloomberg<\/a>, as competitive pressures, declining consumption, and falling profits made its debt load unsustainable.<\/p>\n

Borden, one of America’s oldest and largest dairy companies said it had net sales of $1.2 billion in 2018, but that resulted in a net loss of $14.6 million. From January 2019 through December 7, Borden reported a net loss of $42.4 million, according to its bankruptcy filing, CNN Business reports<\/a>. In its Chapter 11 filing in Delaware, Borden Dairy listed assets and liabilities of between\u00a0$100 million<\/span>\u00a0and\u00a0$500 million.\u00a0The case is Borden Dairy Co., 20-10010-CSS, U.S. Bankruptcy Court for the District of Delaware.<\/span><\/p>\n

\u201cWhile milk remains a household item in the\u00a0United States<\/span>, people are simply drinking less of it (…) In parallel, since the turn of the century, the number of U.S. dairy farms has rapidly declined,\u201d said\u00a0Chief Financial Officer Jason Monaco in court papers.<\/strong><\/p><\/blockquote>\n

The Dallas-based company, founded more than 160 years ago, said in a\u00a0statement<\/a>\u00a0that normal operations will continue while it works out a recovery plan.\u00a0To continue operating in bankruptcy, Borden needs to tap an account containing\u00a0$26.6 million<\/span>\u00a0that it established in 2017 to pay for a settlement with two pension funds, Monaco said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Borden Dairy Co.\u00a0files for bankruptcy citing unbearable debt.<\/p>\n","protected":false},"author":8,"featured_media":24396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1338],"tags":[1424,3133,99,1385,3135,3134],"class_list":["post-24395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bankruptcy","tag-borden-dairy","tag-ceo","tag-ceo-northam","tag-dairy-products","tag-milk"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/24395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=24395"}],"version-history":[{"count":2,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/24395\/revisions"}],"predecessor-version":[{"id":24398,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/24395\/revisions\/24398"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/24396"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=24395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=24395"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=24395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}