Dean Foods has received approval from the U.S. Bankruptcy Court for the Southern District of Texas, granting access for up to $475 million to continue day-to-day operations. Dean Foods President and CEO Eric Beringause praised the action of the court, saying it will allow the company to continue to operate as normal, paying employee wages and payments to suppliers, as it moves through the bankruptcy process. Dean Foods filed for Chapter 11 bankruptcy protection after losing 80 percent of its stock value in the past year. Dairy Farmers of America is reportedly in “advanced discussions” with Dean Foods about the purchase of Dean Foods’ assets.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.