OpenGate's Golden Guernsey Dairy Files For Ch. 7

Law360, Wilmington (January 9, 2013, 7:22 PM EST) -- Private equity-owned milk processor Golden Guernsey Dairy LLC filed a Chapter 7 bankruptcy petition in Delaware on Tuesday, deciding to liquidate after failing to cut expenses in the face of demand for cheaper dairy products.

The Waukesha, Wis.-based company, which is owned by OpenGate Capital LLC, listed both assets and debts between $10 million and $50 million in its petition.

"We have to make realistic decisions about our investments, and the reality is that the Golden Guernsey business was unable to achieve financial autonomy given the...
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