Oberweis receives bid from Illinois businessman after filing for bankruptcy protection

Oberweis Dairy filed for Chapter 11 bankruptcy protection on April 12 with the Northern District of Illinois, according to court documents. The move is typically an attempt at reorganization and is an effort to help keep a business alive and pay creditors over time, according to U.S. Courts officials. The company reportedly owes at least $4 million to creditors.

On Tuesday, a "stalking horse" bid for acquiring most of its operating assets was presented to Oberweis, adhering to section 363 of the bankruptcy code and pending court endorsement. This bid came from Brian Boomsma, a local businessman and Illinois-based entrepreneur.Brian intends to oversee and expand Oberweis's operations.

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