{"id":33161,"date":"2025-07-02T17:41:17","date_gmt":"2025-07-02T17:41:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/33161\/"},"modified":"2025-07-02T17:41:17","modified_gmt":"2025-07-02T17:41:17","slug":"del-monte-foods-files-for-bankruptcy-as-139-year-old-food-icon-seeks-sale","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/33161\/","title":{"rendered":"Del Monte Foods files for bankruptcy as 139-year-old food icon seeks sale"},"content":{"rendered":"<p>Del\u00a0Monte\u00a0Foods kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the US on Tuesday under an agreement with certain key lenders, the company said in a statement.<\/p>\n<p>The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that it intends to remain open and continue operations throughout the bankruptcy.<\/p>\n<p>The 139-year old company hosts names like canned fruits and vegetables brand\u00a0Del\u00a0Monte, College Inn, under which it sells broth and stocks, and tea brands like Joyba.<\/p>\n<p><img style=\"aspect-ratio:1.28136201;display:block\" fetchpriority=\"high\" decoding=\"async\" width=\"756\" height=\"590\" data-modal-image=\"36414864\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/june-22-2006-107499193.jpg\" alt=\"Shelf of Del Monte canned vegetables.\" class=\"wp-image-36414864\"  \/>Del Monte, a 135-year-old company, has secured $912.5 million in financing to support itself through the proceedings. AP<\/p>\n<p>It listed estimated assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the New Jersey bankruptcy court, while the number of creditors is estimated between 10,000 and 25,000.<\/p>\n<p>\u201cThis is a strategic step forward for\u00a0Del\u00a0Monte\u00a0Foods. 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\u00a0Del\u00a0Monte\u00a0Foods,\u201d CEO Greg Longstreet said.<\/p>\n<p>Certain of its non-US subsidiaries are not included in the Chapter 11 proceedings and continue to operate as usual,\u00a0Del\u00a0Monte\u00a0Foods said.<\/p>\n","protected":false},"excerpt":{"rendered":"Del\u00a0Monte\u00a0Foods kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the&hellip;\n","protected":false},"author":3,"featured_media":33162,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[27739,64,9448,24590,67,132,68,1930],"class_list":{"0":"post-33161","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bankruptcy","9":"tag-business","10":"tag-fruit","11":"tag-supermarkets","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us","15":"tag-vegetables"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114784874286661834","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/33161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=33161"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/33161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/33162"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=33161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=33161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=33161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}