Soy-Boys & Unions Sink America’s Biggest Milk Producer – NewsWars

Click here for the original article source

Borden Dairy Company filed for Chapter 11 bankruptcy on Monday amid rising milk prices and what court filings described as an “unsustainable” debt pile, reported Bloomberg.

Borden was founded in 1857, one of America’s oldest and largest dairy producers is the second major dairy company to fold in months.

Court filings said the company would use Chapter 11 bankruptcy to “pursue a financial restructuring designed to reduce its current debt load, maximize value and position the company for long-term success.”

Dean Foods, the nation’s largest milk producer, filed for voluntary Chapter 11 in November, citing unsustainable business practices, changing consumer trends, and rising competition.

Filings showed Borden had assets and liabilities of around $100 million to $500 million. The company plans to conduct routine operations through the restructuring period.

Flip the switch and supercharge your state of mind with Brain Force Plus!

The filing noted that its debt load and pension obligations were a significant factor that made operations unsustainable.

Alex Jones Calls President Trump Out

Alex Jones calls out President Trump for not protecting his vocal support base, effectively helping Dems gain ground in the 2020 election.

The company has approximately 3,330 employees, with 22% of them covered by a collective bargaining agreement. The filing doesn’t say if layoffs or a complete liquidation is imminent

Net sales of $1.2 billion were recorded in 2018 but resulted in a net loss of $14.6 million. The company reported a net loss of $42.4 million in 2019, the filing said.

Besides too much debt, the company blamed shifting consumer trends, one where American refrigerators are being stockpiled with almond, soy, rice and nut milk, instead of traditional dairy products.

“While milk remains a household item in the United States, people are simply drinking less of it,” CFO Jason Monaco said in court papers.

“In parallel, since the turn of the century, the number of U.S. dairy farms has rapidly declined.”

The filing also outlined an abundance of milk supply despite spot prices rising 27% in 2019, even as retail prices and margins are plunging. The mechanics behind the demise of Borden is also how Dean Foods failed.

At the moment, Borden needs a cash infusion of $26.6 million to operate through bankruptcy – if it cannot obtain a source of liquidity – then the company might collapse under its weight of debt.


Ignore The Eugenics Plan At Your Own Peril

For those of you that have ingested this information through countless interviews and analysis at Infowars, this report serves as a refresher.

Also, take advantage of the final hours of our Mega Blowout Sale with free shipping and up to 75% off our hottest items!

Please follow and like us: