One of America's oldest and largest dairy manufacturers is filing for bankruptcy. Texas-based Borden Dairy Company is the second major milk producer to do so in less than two months due to a continuous rise in milk prices and decline in consumption. The Dallas-based company is known for its mascot Elsie the Cow and the company was founded more than 160-years-ago. Borden says it can no longer afford pension obligations due to crippling debt, citing that U.S. milk consumption has dropped by six-percent since 2015.