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Topline: Borden Dairy, one of the oldest milk processors in the U.S., filed for bankruptcy on Monday, making it the second large milk seller in nearly two months to restructure amid rising raw milk costs and lackluster consumer demand. . . Borden Dairy said in a statement that it filed for Chapter 11 bankruptcy protection because its debt levels are unsustainable and the company has been impacted by the “rising cost of raw milk and market challenges facing the dairy industry.” . . Crucial quote: “Despite our numerous achievements during the past 18 months, the Company continues to be impacted by the rising cost of raw milk and market challenges facing the dairy industry,” Borden CEO Tony Sarsam said in a statement. “These challenges have contributed to making our current level of debt unsustainable.” . . Read more at @forbes

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