Oberweis for Ch. 11 bankruptcy protection [Video]

ST. LOUIS — Oberweis Dairy Inc., a nearly century-old business known for home delivery of milk and its retail ice cream and dairy stores, has filed for bankruptcy reorganization while it seeks a buyer.

The North Aurora, Illinois-based company and five affiliates filed April 12 for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Northern District of Illinois. The company is represented by attorney Howard Adelman of Adelman & Gettleman Ltd. of Chicago.

Oberweis Dairy, owned by the family of former Illinois state Sen. Jim Oberweis, had $93 million in revenue last year, according to court documents.

In its filing, Oberweis Dairy listed estimated assets and liabilities each at $10 million to $50 million, with 1,000 to 5,000 creditors.

The company, founded in …