Dean Foods has officially announced that they will file for Chapter 11 bankruptcy. The Texas-based company is the largest milk producer in America.
The milk industry is doing fine, but consumers are choosing non-diary milk over dairy milk. This consumer activity is having a significant impact on dairy milk producers like Dean Foods.
The chapter 11 bankruptcy filing will keep Dean Foods operating as normal while reorganizing its debt. Deans Foods is also discussing possibly selling all of its assets to Dairy Farmers of America.