Humboldt Creamery files for Chapter 11 bankruptcy protection | company content from N...

Page 1 of 2

Subscribe About Us Advertise Standards RSS

Register or Log-
Log-in

BUSINESS EVENTS FOOD AND BEVERAGE HEALTH AND BEAUTY INGREDIENTS ORGANIC SUPPLEMENTS LIFESTYLE

Home > Business > Business Directory > Humboldt Creamery files for Chapter 11 bankruptcy
protection Sign Up!
For the New Hope 360 Newsletter
Keep up with the latest news with our daily
newsletter
Humboldt Creamery files for Chapter 11 bankruptcy
SIGN UP NOW
protection
Cara Hopkins, Natural Foods Merchandiser RSS COMMENTS 0
Apr. 23, 2009 1:19pm
Advertisement
PRINT SAVE EMAIL SHARE

Fernbridge, Calif.-based Humboldt Creamery, LLC filed for bankruptcy on Tuesday,

following months of speculation about financial difficulties and the resignation of CEO
Richard Ghlarducci.

The company filed for Chapter 11 bankruptcy protection in a Santa Rosa court as it
reorganizes and seeks a buyer. In late February, Ghilarducci, who had been CEO since 1997,
stepped down suddenly and warned of “possibly irregularities in the books” according to a
March 22 New York Times article.

“The Board of Directors was shocked at the news contained in the telephone call from our
former CEO’s personal lawyer,” said Jim Renner, Chairman of Humboldt Creamery Board, in
a release. “We immediately began an independent inquiry, which will be managed by an
outstanding team of outside lawyers, accountants and other advisers. We are determined to
get to the bottom of this matter as quickly as possible and to act in the best interests of our
cooperative members, employees, and business partners.”
Current Top Ten
Founded in 1929 and currently comprised of about 50 California dairies, Humboldt is the Most Popular Most Recent Most Shared
largest independent dairy cooperative in California, specializing in organic milk, ice cream
and milk powders from pasture-raised cows. Its products are sold nationally and 1. 10 healthy, warming soups & stews
internationally.
2. Top 10 hot products at the winter Fancy Foods Show

According to court documents, unsecured creditors include California Dairies, with a $1.25 3. Top 12 healthy cookbooks of 2010
million claim, Rumiano Cheese Company, with a $1.18 million claim, and Organic Valley, 4. What is the secret to ageless skin?
with a $544,000 claim.
5. The magnificent 7: Our ingredient picks for 2011

Humboldt’s interim CEO, Len Mayer, said in a statement that the company has negotiated a 6. Cut calories
$3 million loan agreement with CoBank and American AgCredit. The funds will be used to
7. Easy detox for 2011
pay suppliers for goods, supplies and services delivered after the bankruptcy filing, to support
daily operations and to seek a “strategic buyer.” 8. 20 detox recipes

9. 7 organic chocolate desserts

PRINT SAVE EMAIL SHARE
10. Hyland's Teething Tablets recalled; parents react

Related Articles RSS

Health & Nutrition Systems International Inc. Announces Filing for Chapter 11
Bankruptcy Protection Advertisement

Foster Farms to buy Humboldt Creamery

Bashas' files Chapter 11 bankruptcy

LyondellBassell files for Chapter 11 protection

http://newhope360.com/business-directory/humboldt-creamery-files-chapter-11-bankruptc... 2/12/2011
Humboldt Creamery files for Chapter 11 bankruptcy protection | company content from N... Page 2 of 2

NutraCea U.S. Files for Protection Under Chapter 11 to Restructure Operations

Discuss this article 0

Sign In or register to use

NAME: Anonymous
your New Hope 360 ID

EMAIL: (optional)

YOUR COMMENT:

NewHope360.com

Home Business Events Food & Beverage Health & Beauty Ingredients Lifestyle Organic Supplements

Site Features New Hope Natural Media Search NewHope360.com

Subscribe About Us

RSS Contact

Job Listings Advertise

Sitemap Standards

Terms of Use Graphic Center

Privacy Policy Follow Us

New Hope 360 Sources

Delicious Living Functional Ingredients Natural Foods Merchandiser Nutrition Business Journal NPI Center

New Hope 360 In Person

Natural Products Expo East Natural Products Expo West Natural Products Expo Asia NBJ Summit Nutracon Conference Supply Expo The Organic Summit Natural

Copyright © 2010 Penton Media, Inc.

http://newhope360.com/business-directory/humboldt-creamery-files-chapter-11-bankruptc... 2/12/2011