Business & Tech
Former Golden Guernsey Employees Given Access to 401K Benefits
Some of the displaced workers have indicated they have fallen behind on bills and are at risk of losing their houses.
The Golden Guernsey workers who lost their jobs when the plant closed in January will now have access to their 401K retirements, reported the Milwaukee Journal Sentinel.
The company abruptly shut its doors in January and announced bankruptcy, leaving more than 100 employees wondering about their future.
A trustee for the case in U.S. Bankruptcy Court in Delaware asked provider Principal Financial Group to release the retirement funds after some of the laid-off employees said they have fallen behind on bills and are at risk of losing their homes.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Under court approval, the bankrupt Golden Guernsey Dairy LLC was operating the dairy processing facility to prepare for potential sale that might still be able to save jobs.
Superior Dairy is the only firm to make an offer, reported Wisconsin Ag Connection. The bankruptcy court is taking bids through May 10.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
