The Golden Guernsey dairy plant, which abruptly shut its doors after announcing bankruptcy, was sold at auction Tuesday to an Illinois company for $7.4 million, reported the Milwaukee Journal Sentinel.
Lifeway Foods Inc., of Morton Grove, IL., won the auction over Ohio company Superior Dairy LLC who had offered $5.5 million.
The company closed in January and announced bankruptcy, leaving more than 100 employees wondering about their future.
Lifeway Foods, producer of frozen kefir and probiotic cheese products, said the Waukesha plant might reopen this summer and employing as many people as possible, reported the Journal Sentinel.
Retirement funds for laid-off employees were released after some said they had fallen behind on bills and were at risk of losing their homes.
Under court approval, the bankrupt Golden Guernsey Dairy LLC was operating the dairy processing facility to prepare for the sale.
- Former Golden Guernsey Employees Given Access to 401K Benefits
- Schools Switch Milk Providers in Wake of Golden Guernsey Shutdown
- Golden Guernsey Creditors Support Sale If They Can Recover Claims
- $5.5M Purchase Offer Placed for Golden Guernsey
- Golden Guernsey Sale Can Save Jobs of Displaced Workers
- Leftover Golden Guernsey Milk Donated to Hunger Task Force