[ad_1]
Oberweis, a century-old North Aurora dairy with a recent history of Republican political aspirations by its owner, is seeking Chapter 11 bankruptcy protection.
The family-owned dairy, which has dozens of ice cream stores and shelf space in grocery stores across the Midwest, owes more than $4 million to its 20 largest unsecured creditors, according to the bankruptcy filing Friday in Chicago.
Bartlett-based Italian food service company Greco & Sons is listed as the largest unsecured creditor at more than $721,000 owed, according to the filing. Oberweis Dairy also owes the Cook County Treasurer more than $173,000.
Started in 1915 when Peter Oberweis, an Aurora dairy farmer, began selling extra milk to his neighbors out of a horse-drawn wagon, the enterprise became Oberweis Dairy in 1930, according to the company’s origin story posted on its website. His grandson, Jim Oberweis, bought the business in 1986 and put it on a fast track to regional expansion — before pursuing a career in Republican politics.
Oberweis opened its first ice cream store in 1951, and has since grown to more than 40 locations in the Chicago area, northwest Indiana, Michigan and St. Louis. Oberweis dairy products, including old school bottled milk, are also available in grocery stores throughout the Midwest.
In 1997, it opened a new production facility and headquarters in North Aurora. Joe Oberweis, the youngest son of Jim Oberweis, became the fourth generation leader of the family-owned business in 2007.
In a message Monday, Jim Oberweis said he is no longer at the helm of the dairy business.
“I left about a year ago and am not involved,” Oberweis said.
Adam Kraber, who is listed as Oberweis Dairy’s president on the bankruptcy filing, did not respond to a request for comment Monday.
The Oberweis name became synonymous with more than milk in the new millennium when Jim Oberweis, chairman of the dairy and grandson of its founder, launched a string of high-profile but failed bids for Illinois political office as a Republican candidate.
Jim Oberweis, who lives in Sugar Grove, ran unsuccessful campaigns for U.S. senator in 2002, 2004, and 2014, when he won the Republican nomination but lost to longtime incumbent, Democrat Dick Durbin. He lost the Republican primary for governor in 2006, and came up short in two bids for U.S. Congress, falling in 2020 to Democratic incumbent Lauren Underwood in the 14th Congressional District.
The dairy magnate did win a seat as an Illinois state senator in 2013 for the 25th district, where he served as Republican spokesperson for the Labor and Commerce Committee. Oberweis left his state senate seat in 2021.
rchannick@chicagotribune.com
[ad_2]
Source link