Skip to content

When you can’t not go bankrupt

KKR & Co.'s credit arm in court papers Tuesday said Borden had "no economic justification" for its sudden decision to file chapter 11 protection after lengthy negotiations with creditors aimed at avoiding bankruptcy.
-- Andrew Scurria and Becky Yerak, WSJ

Borden's major competitor, Dean Foods, filed for bankruptcy protection in November. When your competition gets to reset their debt, the only way to compete at the new cost-of-goods level is to also reset your outstanding debt.