Dean Foods Filing for Chapter 11 Bankruptcy
Wednesday, November 13th, 2019 -- 9:42 AM
(WRN) -Dairy production company Dean Foods is filing for Chapter 11 bankruptcy.One of the country's largest dairy companies is filing for bankruptcy. Dean Foods will be working with Dairy Farmers of America to restructure. State ag spokesman Rick Hummel says for now, it's business as usual for consumers and farmers.
"Under Chapter 11, that allows the company to continue its operations while they're restructuring, as opposed to a Chapter 7 liquidation bankruptcy."
Hummel says they haven't gotten any reports of checks not being paid to farmers.
"Our department will be following up with Dean to make sure that payments to producers will continue to be made on time."
Hummel says for now, farmers who sell to Dean should take things as business as usual.
"We haven't received any reports that producers have not received any checks."
Dean lost its biggest customer last year after Walmart took over its own milk production. Dean is one of the nation's largest milk producers, with over 15-thousand employees. The company will be working out a restructuring deal with Dairy Farmers of America.
Feel free to contact us with questions and/or comments.