America's largest milk producer files for bankruptcy

[left-of-center2012]

Dean Foods, America's largest milk producer, is filing for bankruptcy.

The 94-year-old company has struggled in recent years because Americans are drinking less cows milk. 2019 has been particularly brutal: the company's sales tumbled 7% in the first half of the year, and profit fell 14%. Dean Foods (DF) stock has lost 80% this year.

The company is saddled with debt and has been unable to fund all of its workers' pensions. So on Tuesday, Dean Foods filed for Chapter 11 bankruptcy protection to keep the business operating, reorganize its debt and help fund the pensions while it looks to sell the company.

Once a staple of the American refrigerator, milk has slowly fallen out of favor with consumers as they seek less-sugary or plant-based alternatives.

The global market for milk alternatives is expected to top $18 billion this year, up 3.5% from 2018, according to Euromonitor. That's still a fraction of the traditional milk market which will come in at just under $120 billion globally this year.

https://www.cnn.com/2019/11/12/business/dean-foods-bankruptcy/index.html

[Wellstone ruled]

1. Ouch!

How many Milk Checks will bounce this week? How many employee Pay Checks will bounce this week?

The real story is,how many Dairy Farmers go under this month. It is going to get butt ugly before Xmas for anyone who has any association with the Davis Family.

[mzmolly]

2. Ugh

[gibraltar72]

3. Milk is selling for what it sold for 30 years ago.

Farmers had the greatest opportunity for a union. But everyone cut each others throat.

[safeinOhio]

4. Cheese sales are the only thing

saving dairy farmers now.

[Midnight Writer]

5. I like milk.

I drink more milk than Kavanaugh drinks beer.

[Tansy_Gold]

6. Wow!

I grew up with Dean's. We jokingly called it "bird milk" because of the bird on the mailbox on their milk cartons. In winter, the bird would wear a scarf.