Del Monte Foods, maker of popular canned goods, files for bankruptcy [View all]
Source: Washington Post
Del Monte Foods, the nearly 140-year-old company whose canned fruits and vegetables have long been grocery store staples, has filed for bankruptcy as it grapples with mounting debt, post-pandemic headwinds and shifts in consumer spending.
The company announced Tuesday that it had voluntarily initiated Chapter 11 proceedings and reached an agreement with its lenders to sell most or all of its assets.
The company owes more than $1.23 billion in long-term secured debt.
“After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” Greg Longstreet, the president and CEO of Del Monte Foods, said in a statement.
Read more: https://www.washingtonpost.com/business/2025/07/03/del-monte-foods-files-bankruptcy
Another American Icon down the tubes.
— OneTinSoldier (@abluedotinaredsea.bsky.social) 2025-07-03T12:39:28.738Z
Del Monte Foods, maker of popular canned goods, files for bankruptcy
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