UNITED STATES (WSYR-TV) — One of America’s oldest and largest dairy companies became the second major milk producer to file for bankruptcy in the last two months. Borden Dairy Company said it cannot afford its debt load and its pension obligations.
The company said it also has been hurt by a drop in overall U.S. milk consumption since 2015. Borden noted more than 2,700 family dairy farms went out of business last year, and 94,000 have stopped producing milk since 1992.
Borden has 3,300 employees. It is unclear whether the company intends to stay in business long term or liquidate.
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