US Edition138-year old grocery store staple files for bankruptcy
NEW JERSEY, UNITED STATES, JUL 1 – Del Monte Foods seeks court-supervised sale amid $1 billion to $10 billion in liabilities and secured $912.5 million financing to maintain operations during bankruptcy proceedings.
- Del Monte Foods, a 139-year-old canned food company based in Walnut Creek, California, filed for Chapter 11 bankruptcy on July 1, 2025, in New Jersey court.
- The filing followed a debt restructuring last year and reflects shifting consumer preferences toward healthier foods and increased costs from a 50% steel tariff.
- Del Monte obtained a $912.5 million debtor-in-possession loan commitment from some of its current lenders, subject to court approval, to finance its operations throughout a court-managed sale process backed by a restructuring agreement.
- CEO Greg Longstreet explained that pursuing a court-supervised sale was identified as the best option to speed up the company's recovery and build a more resilient Del Monte Foods, describing it as an important move for the company's future.
- Del Monte will continue operating throughout the process, excluding some non-U.S. subsidiaries, aiming to maximize value for stakeholders and secure long-term success despite market challenges.
367 Articles
367 Articles
Bradford Media Group Files for Chapter 11 Bankruptcy
Bradford Media Group LLC, which turned KHTE-FM into urban radio station 96.5 The Box under a 2018 local marketing agreement with Crain Media Group, filed for Chapter 11 bankruptcy protection on June 13. The company, led by Alfred M. Bradford IV, filed its petition in U.S. Bankruptcy Court for the Eastern District of Arkansas. Its filings listed estimated assets of less than $50,000 and debts of between $1 million and $10 million. Chapter 11 give…
DEL MONTE FOODS files for Chapter 11 bankruptcy, seeks buyer amid debt woes and shifting consumer trends - Asian Journal News
Del Monte Foods' brand portfolio includes household names such as Del Monte, Contadina, College Inn, S&W, Kitchen Basics, Joyba, and Take Root Organics—many of which remain staples in American and Filipino American kitchens despite the company’s recent bankruptcy filing. (Photo source - delmonte.com) Del Monte Foods, a Filipino-owned U.S. food giant, has filed for Chapter 11 bankruptcy to restructure debt and…
The US canned food company Del Monte Foods declared technically bankrupt in the last few hours, claiming an increase in debt and economic difficulties caused by changes in spending habits and consumer preferences.Del Monte, with almost 140 years of history and whose fruits, vegetables and packed broths were very popular in North America mainly, voluntarily accepted Chapter 11 of the U.S. Bankruptcy Act, which allows the reorganization of entitie…
[New York - Mizobuchi Mika] On the 1st, Del Monte Foods (California), a major American food company, filed for Chapter 11 bankruptcy, which is equivalent to Japan's Civil Rehabilitation Act. Demand temporarily increased due to stay-at-home consumption caused by the COVID-19 pandemic, but sales have since slumped, inventory has piled up, and cash flow has worsened. The company filed in New Jersey. According to documents submitted to the court, to…
Del Monte Foods, the nearly 140-year-old company known for its wide range of canned vegetables and fruits, declared bankruptcy on Tuesday after fighting rising borrowing costs, the false steps of the pandemic and a changing global economy. California-based company, which faces a guaranteed debt of more than $1.2 billion, said it had agreed on a restructuring agreement with lenders that requires Del Monte to sell "all or substantially all" its as…
Coverage Details
Bias Distribution
- 65% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
