WAUKESHA (WKOW) -- Golden Guernsey, the 83-year-old dairy processor that closed abruptly over the weekend, has filed for bankruptcy.
The private equity firm that bought Golden Guernsey in 2011 says it has filed for Chapter 7 bankruptcy protection in Delaware bankruptcy court. OpenGate CEO Andrew Nikou said in a statement late Tuesday, the pressure to lower prices, as well as non-negotiable operating expenses led to the decision to close the plant in Waukesha.
The sudden closure 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.
Golden Guernsey was established in Milwaukee in 1930.