Borden Dairy Company Files for Bankruptcy

(Dallas, TX) — One of America’s oldest and largest dairy manufacturers is filing for bankruptcy.

Borden Dairy Company is the second major milk producer to do so in less than two months due to a continuous rise in milk prices and decline in consumption. The Dallas-based company is known for its mascot Elsie the Cow and the company was founded more than 160-years-ago.

Borden says it can no longer afford pension obligations due to crippling debt, citing that U.S. milk consumption has dropped by 6% since 2015.