Borden Dairy has filed for Chapter 11 bankruptcy, the second company to do so in recent months. Borden Dairy officials say they will continue normal operations at they move forward with Chapter 11. South Dakota Dairy Producers Association President Marv Post says it’s always a concern for the industry when this happens, but South Dakota’s dairy manufacturers are in good shape.
He says for several years there’s been a decline in the consumption of fluid milk which Borden’s been heavily focused on.
Post says although the price of fluid milk had an impact on Borden’s bottom line, alternative milk products were also a factor.
Borden’s bankruptcy filing says that from January of 2019 through December 7, the company reported a net loss of $42.4 million. Borden currently employs 3,300 people.
