Texas-based Dean Foods Files For Chapter 11 Bankruptcy Protection

Pouring milk in the glass on the background of nature.

Dallas-based Dean Foods is filing for Chapter 11 bankruptcy protection. The dairy company says it is working on an "orderly" sale. The company includes the brands Land O Lakes, Lehigh Valley Dairy Farms, and DairyPure. It says it has secured commitments for 850 million in debtor-in-possession financing to support its operations through the bankruptcy. 

Dean Foods says its sales dropped by 7% in the first half of the year, resulting in a 14% decrease in profits. The rough first half caused the company's stock to lose 80% of its value. In addition to the decline in milk sales, Dean Foods also suffered a financial hit when Walmart ended their contract and began processing their own milk in 2017. 

Photo: Getty Images


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