Golden Guernsey files for bankruptcy protection
WAUKESHA—The 83-year-old dairy processor that closed abruptly in southeastern Wisconsin and left area schools scrambling for milk has filed for bankruptcy.
The private equity firm that bought Golden Guernsey in 2011 says it’s filed for Chapter 7 bankruptcy protection in Delaware bankruptcy court. OpenGate CEO Andrew Nikou said in a statement late Tuesday that pressure to lower prices, as well as nonnegotiable operating expenses led to the decision to close the plant in Waukesha.
The sudden closure over the weekend left more than 100 people without jobs and had schools working to line up new milk suppliers. State labor officials say OpenGate had not provided the 60-day notice for a plant closing as required by law.
The Milwaukee Journal Sentinel reports Golden Guernsey was established in Milwaukee in 1930.
Jan 10, 2013 at 6:22 a.m.
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Why post just part of the story on this?
The real story is how roughly a year or two ago the US Attorney General, under Obama, and this state Attorney General FORCED Dean to sell the dairy processor. This facilitated the purchase by this equity firm.
Without government involvement, none of this would have happened and all these people would still have their jobs.
Sad how the bigger government types are silent on this.
Jan 10, 2013 at 1:15 a.m.
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We know one mouse who "milks" the system
Jan 9, 2013 at 6:16 p.m.
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No, this was done Mitt Romney style.
Jan 9, 2013 at 5:22 p.m.
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Get a life Mouse. You must be pretty bored if you like to slum this site to start some lame drama for attention.
Jan 9, 2013 at 3:58 p.m.
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Obama and the EPA are shutting down farmers all over America, not just Wisconsin. No wonder the Congress are calling Lisa Jackson up to testify and quits.
Jan 9, 2013 at 3:55 p.m.
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916WI - my favorite part is that, when you present FACTS, Mouse disappears back into the hole in the wall. At least for a while.
Jan 9, 2013 at 3:30 p.m.
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JoyM......You're giving Mouse way too much credit if you think he can grasp that concept! The little guy is a complete idiot who is capable of nothing more than copying and pasting links from the low budget, almost laughable anti-Walker websites..........
Jan 9, 2013 at 3:18 p.m.
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Mouse, it was your beloved Democratic Federal Government - Eric Holder on behalf of President Obama - which required Dean to sell off Golden Guernsey because of antitrust concerns. Why don't you get your facts lined up before you spout venom? (Yes, I know Van Holland went in on it....but you should be pleased did what Obama's administration wanted.) WALKER DID NOT DO THIS TO THESE EMPLOYEES. THE OWNERS DID THIS.
Jan 9, 2013 at 1:25 p.m.
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Cynicleeye - are they union there?
Jan 9, 2013 at 1:03 p.m.
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Sales were up 20%, so you have to wonder what they were thinking when they bought it just over a year ago. Most likely closure and cash extraction were part of the strategy from the beginning.
Jan 9, 2013 at 11:49 a.m.
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dal - Just like Hostess/Wonder. And many others.
Jan 9, 2013 at 11:29 a.m.
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starbuck - this state was losing jobs well before Walker even ran for office. Remember GM? No governor or other public leader can be held responsible for poor company management or other financial issues within the company which may have caused this. Obviously, they did the shady thing and closed without warning, against the law, but if they are going bankrupt the state won't get its fine and the employees are probably screwed out of any severance to which they were entitled.
Jan 9, 2013 at 10:25 a.m.
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Seems like more jobs are being lost under Walker than at anytime in the history of Wisconsin. So sad.
Jan 9, 2013 at 10:06 a.m.
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What I am worried about is what will happen to all those workers who are out a job because of this unemployment only lasts so long and jobs right now are few and far between?
Jan 9, 2013 at 10:03 a.m.
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I wonder how much money Open Gate siphoned out of the company before they closed.
Jan 9, 2013 at 9:58 a.m.
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Blame it on the unions. Nothing but corporate raiders staling money then taking a walk.
Jan 9, 2013 at 9:25 a.m.
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Surprise, surprise.
.
Maybe they should've let Dean keep it.
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