Golden Guernsey Creditors Support Sale If They Can Recover Claims
The two creditors are supporting the proposed $5.5 million sale of Golden Guernsey Dairy if it means they recover their claims from the proceeds of the sale.
Two creditors say they support the sale of bankrupt Golden Guernsey Dairy LLC if they can get back what they are owed, reported the Business Journal.
Superior Dairy in Canton, OH, has made a $5.5 million offer to purchase Golden Guernsey in Waukesha.
The offer for purchase could make way for Golden Guernsey to re-open after a California investment firm owning the Wisconsin dairy filed bankruptcy in early January.
Accord Financial was owed about $7.9 million and Foremost Farms USA was owed about $1.8 million at the time of the bankruptcy petition, according to the Business Journal article.
Golden Guernsey started in 1930 as a farmer-owned cooperative in Milwaukee, and by 1935, delivered milk to the homes of 20,000 customers in Wisconsin, according to its website. By 1955 construction began at its current facility at 2101 Delafield St.
