Share any updates you may have about Dean Foods Layoffs 2020? Any news or rumors?
12 replies (most recent on top)
Anything can happen this year
Multi acre? More like 3 city blocks worth of land from the street all the way to the East. A guy could really make a k–ling with all that land to develop.
Re: "I can see a developer wanting to do that. IMO corporate would sell the run down, inefficient , older buildings first for next to nothing so they can get them off their hands. While eliminating labor and benefit costs at the same time."
Sales of plants going to go to highest bidders regardless of their plans for facility. In other words, Dean Foods labor and benefits costs at a facility go to zero as soon as they sell that facility regardless of what happens to that facility. Whether it stays operating as usual, gets torn down, or gets converting to making toy trains, the end result for Dean Foods is the same- get money at time of sale and then out of their hands.
Dean Foods may honestly want to sell to DFA with a promise from DFA that they will hire everyone and keep them working. Too bad. Dean Foods can't make that decision. The banks and bondholders want the most money and don't give a damn what whoever pays the most does after buying.
Didn't a corporate developer buy the Dallas plant that closed?
How many aren't in truly bad parts of town or are in modest neighborhoods like the other Dallas plant?
I can see a developer wanting to do that. IMO corporate would sell the run down, inefficient , older buildings first for next to nothing so they can get them off their hands. While eliminating labor and benefit costs at the same time.
Upvoted because it sounds like a rumor with some substance, not because I want the rumor to be true.
Rumor here at corporate.Commercial developer in talks to buy some plants. Those plants will then be liquidized in an equipment fire sale then leveled to the ground for store/business development. Hundreds laid off.
Closings / layoffs decided by Dean Foods now have to be approved by the court, so should be out there in the open in court records if / when it comes to that.
Still not expecting anything too newsworthy before January.
Only possible newsworthy thing before January IMO:
Company comes to an agreement with DFA that they present to the court. Bondholder group objects. Court either approves agreement pending anti-trust approval despite bondholder objection or sets time limit for other bids to come in.
Don't really think things will move that quickly and I think DFA would be just as happy if someone else buys everything as long as that someone else buys milk from their member dairy farmers.
Yes it's bad when Sears stock is at .23¢ vs. Dean's .08¢ per share maybe the New CEO will give each employee 500 shares for Thanksgiving and Christmas bonuses cheaper than a turkey and ham. LMAO
Maybe they could invest in Deans stock! 8 cents a share at the moment. LOL
Far too early in process for that. Company got big loan to continue operations as normal for now. Visits from potential buyers may start soon and rumors surrounding those visits likely to start flying then.
Watch court filings. Company got permission to tap about half of loan to continue operations as normal. If they ask permission to use that other half, that may signal closings coming soon.