Business & Tech
Oberweis Dairy Files For Bankruptcy Protection
The almost 100-year-old company said it owes creditors, including the Cook County Treasurer's Office, more than $4 million.
NORTH AURORA, IL — A family dairy company known for its milk and ice cream has filed for bankruptcy protections, court documents show.
Oberweis Dairy, Inc. filed a voluntary petition for Chapter 11 bankruptcy protections on Friday, saying it owes more than $4 million to creditors.
The dairy listed multiple food vendors and transportation companies among the entities it owes money, as well as the Cook County Treasurer's Office, which is owed $173,000.
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Filing for Chapter 11 bankruptcy protection means that Oberweis will reorganize their debts and assets under court supervision and work towards paying the creditors back.
According to the company's website, Oberweis Dairy began in 1915 when Aurora dairy farmer Peter Oberweis began selling extra milk to his neighbors. He eventually renamed a company called Big Woods Dairy in 1929 after becoming primary owner.
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Peter's son Joe opened the first Oberweis Ice Cream and Dairy Store in Aurora in 1951.
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