US Edition
138-year old grocery store staple files for bankruptcy
- On July 1, 2025, Del Monte Foods initiated voluntary Chapter 11 bankruptcy proceedings in a New Jersey federal court to facilitate a court-monitored sale process.
- This filing follows a debt restructuring completed a year earlier and a lawsuit by lenders who objected to that plan, which was settled with a loan increasing interest expenses by $4 million annually.
- Del Monte obtained $912.5 million in financing from existing lenders to maintain liquidity and ensure continuous operations throughout its Chapter 11 restructuring and asset sale process.
- After carefully considering all potential strategies, CEO Greg Longstreet concluded that pursuing a court-supervised sale would be the best approach to accelerate the company’s recovery and build a more resilient Del Monte Foods amid changing consumer preferences toward healthier options.
- The bankruptcy and sale aim to improve Del Monte's capital structure and secure long-term success amid challenges including macroeconomic pressures and changing consumer trends away from canned goods.
Insights by Ground AI
Does this summary seem wrong?
295 Articles
295 Articles
All
Left
53
Center
117
Right
19
Philippine Tycoon Joselito Campos-Backed Del Monte Pacific’s U.S. Unit Files For Bankruptcy
Del Monte Pacific—known for its canned pineapple and fruit cocktail as well as its sauces—said it had invested $579 million in its U.S. unit, which owes the company about $169 million in net receivables.
·United States
Read Full Article
The U.S. food giant Del Monte Foods filed the insolvency application. Subsidiaries are not affected. What does this mean for the company?
139 years ago the US food giant Del Monte was founded. Now the company is insolvent. But it is to be saved.
·Berlin, Germany
Read Full Article
The US company Del Monte is in financial trouble. The traditional company is looking for a buyer.
Coverage Details
Total News Sources295
Leaning Left53Leaning Right19Center117Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 28%
C 62%
Factuality
To view factuality data please Upgrade to Premium
