Major Illinois Dairy Files For Bankruptcy Protection

When it comes to interesting success stories, this particular Illinois dairy got its start back in 1915, when a local dairy farmer named Peter began selling extra milk off the back of his wagon to his neighbors who needed it in and around Aurora

When you've got a great product, word spreads.

It wasn't long at all before Peter, the Aurora dairy farmer, became co-owner of dairy, and even less time before Peter the dairy farmer bought the remaining interest in the dairy, at that time called Big Woods Dairy, and renamed it after himself...no, not Peter's Dairy...

Oberweis Dairy.

In Addition To The Dairy, Oberweis Has A Total Of Forty-Three Stores, With The Majority In And Around The Chicago Area

In fact, Peter's son Joe opened the very first Oberweis ice cream store in Aurora, back in 1951. It took about 40 years, but Oberweis opened their second ice cream and dairy store in Glen Ellyn in 1991.

If You're An Oberweis Dairy And/Or Ice Cream Fan, It Should Be Pointed Out That Filing For Bankruptcy Protection Does Not Mean That Oberweis Dairy And Their Stores Will Be Shutting Down

According to a report from NBCChicago.com, Chapter 11 bankruptcy protection is often referred to as a "reorganization," which makes it possible for a company to stay in business while they try to "restructure" their finances along with their debts. It's not about shuttering business locations permanently.

According to their filing, the problem Oberweis has seems to be with a debt amount of over $4,000,000 to their top twenty creditors. Oberweis also owes the Cook County Treasurer's Office $173,000.