Borden Dairy To File Bankruptcy

Borden Dairy Co announced Monday that it had filed for bankruptcy despite its growth last year outpacing the industry as it increased year-over-year sales
Americans drank around 24 gallons a year in 1996, according to government data but that dropped to 17 gallons in 2018
Borden recorded a net loss of $14.6million in 2018 and $42.4million in 2019
About 65 percent of people cannot drink cow’s milk without getting an upset stomach due to lactose intolerance
Number of US vegans grew from once percent to six percent from 2014 to 2017
Borden, a 163-year-old US company- said ‘market challenges facing the dairy industry’ have ‘contributed to making our current level of debt unsustainable’
Borden has been ‘impacted by the rising cost of raw milk’ but can’t charge consumers more because of pressure from big competitors like Walmart
It’s the second dairy brand to file bankruptcy in two months, after Dean Foods