Borden Is The Latest U.S. Dairy Producer To File For Bankruptcy

Borden, the second major milk producer, filed for bankruptcy due to debt and pension obligations, following Dean Foods. The decline in cow milk consumption, as consumers prefer dairy-free options, has impacted the industry. Borden reported significant financial losses despite sales over a billion dollars. CEO Tony Sarsam highlighted challenges like rising raw milk costs. Borden plans to continue operations while reorganizing through the courts.

What is one of the main reasons the milk producer is facing financial difficulties?

• Large debt and pension obligations

• Increased competition from local farms

• High marketing expenses

• Decline in global milk prices

Which company also filed for Chapter 11 protections due to similar financial issues?

• Dean Foods

• Borden

• Dairy Farmers of America

• Nestle

What trend has contributed to the decline in cow milk consumption?

• Higher prices of cow milk

• Government regulations on dairy

• Preference for dairy-free beverages

• Increase in lactose intolerance

How many US dairy farms shut down according to the report?

• 4000

• 1000

• 2000

• 3000

What is the company's plan while it reorganizes through the courts?

• Cease all operations

• Lay off half of its employees

• Continue normal operations

• Sell its assets