Oberweis Dairy, based in North Aurora, filed for Chapter 11 bankruptcy protection, but now say they have a prospective buyer.
ABC7 Chicago Digital TeamOberweis Dairy has filed for Chapter 11 bankruptcy protection. The North Aurora company owes at least $4 million to creditors, documents show.Oberweis Dairy, an ice cream and dairy company based in North Aurora, said it has a prospective buyer after filing for bankruptcy protection.The west suburban company filed court documents with the Northern District of Illinois for Chapter 11 bankruptcy protection on April 12.
The sale must be approved in court, and the company said their reorganization process and sale is expected to be finalized in late June. Oberweis Dairy owes at least $4 million in combined unsecured claims to their top 20 creditors, the documents show. The company could also owe more money to additional creditors that are not in the top 20.
Among the creditors the company owes money to is the Cook County Treasurer, to which Oberweis owes just over $173,000, documents show.Copyright © 2024 WLS-TV. All Rights Reserved.
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