Madison
73° F
Mostly Cloudy
Mostly Cloudy
Advertisement

Golden Guernsey files for bankruptcy protection

Published On: Jan 09 2013 06:41:17 AM CST
Glass of milk
WAUKESHA, Wis -

The 83-year-old dairy processor that closed abruptly in southeastern Wisconsin and left area schools scrambling for milk has filed for bankruptcy.

The private equity firm that bought Golden Guernsey in 2011 says it's filed for Chapter 7 bankruptcy protection in Delaware bankruptcy court. OpenGate CEO Andrew Nikou said in a statement late Tuesday that pressure to lower prices, as well as nonnegotiable operating expenses led to the decision to close the plant in Waukesha.

The sudden closure over the weekend left more than 100 people without jobs and had schools working to line up new milk suppliers. State labor officials say OpenGate had not provided the 60-day notice for a plant closing as required by law.

The Milwaukee Journal Sentinel reported Golden Guernsey was established in Milwaukee in 1930.

Advertisement
  • Safest Cities - Honolulu

    Marco Garcia/Getty Images

    4. Honolulu, Hawaii

    US cities where residents feel safest

    Gallup-Healthways has ranked the U.S. cities that feel the safest to residents.  How a city ranked on the list was based on how it measured in perceived safety, financial security and sense of community. Click through for the top 20.

  • Takata

    CNN

    12 biggest auto recalls

    Over 2 million more vehicles were added to official lists of models being recalled because of potentially dangerous airbags made by Japanese manufacturer Takata. The recall now totals about 36 million vehicles worldwide. Take a look at the biggest auto recalls in history.

  • Fidel sign Cuba

    Getty Images

    Looking back: U.S.-Cuba relations

    The United States officially removed Cuba from its list of countries that sponsor terrorism on Friday . Get up to speed on the last five decades of American foreign policy toward Cuba.

Advertisement